Indeed. This entire Fed action has been a bailout of uninsured depositors who really should have known better. So now "uninsured by FDIC" has the implicit meani

Indeed. This entire Fed action has been a bailout of uninsured depositors who really should have known better. So now "uninsured by FDIC" has the implicit meaning "insured by the Federal Reserve". I'm not suggesting that corps should have managed every last penny to prevent an uninsured balance but the vast majority of their free cash should have been and sadly easily could have been insured and still readily available.