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If my bank fails next year, and I don't get infinite deposit insurance - where are we then? The fact that the FDIC website still says $250k cap is amazingly la
by Alupis 4y ago
If my bank fails next year, and I don't get infinite deposit insurance - where are we then?
The fact that the FDIC website still says $250k cap is amazingly laughable. It's either unlimited for everyone every time, or it's $250k for everyone every time.
The reality is - it's infinite deposit insurance if you are well connected. Let that sink in folks.
- dylan604 4y agoobviously this is a rhetorical question, but are you really going to be hurt by the $250k cap? really? If so, maybe it's time for a better banking plan than "all eggs in one basket"
- Alupis 4y agoThe point is not whether or not I personally would be hurt by this, or rather the metaphoric I, for the matter. The point is the rules where changed mid-game to protect a bunch of very well connected people that played extremely loose with the "rules" and will suffer zero consequences as a result - because my personal dollars are being used to protect them. Regarding the $250k cap in general - in my opinion, it's far too low. It's lower than the average price of a house in a large amount of the country.
- dylan604 4y agoTo be clear, who are the people that "played extremely loose" in your ire? The bank management or the individual bank account holders that had more than $250k in the accounts? What does the price of a house have to do with the cash-on-hand bank accounts of the average citizen?