3 ms·
They were largest failures not largest banks failing.
by Ocha 3y ago
They were largest failures not largest banks failing.
- jcranmer 3y agoGoing by https://www.federalreserve.gov/releases/lbr/current/ https://www.federalreserve.gov/releases/lbr/current/ and JumpCrisscross's link, the banks that failed would have been around ~16th largest US bank at the time of failure. I don't know how large Washington Mutual was at the time failure compared to other banks, but just doing straightforward inflation adjustment would put it at #10, and I suspect it's closer to #5 or #6.
- JumpCrisscross 3y ago> were largest failures not largest banks failing Correct. The comment I responded to claimed unlimited coverage was limited to the Big 5. We're less than a year from non-TBTF (we let them fail for god's sake) non-big-five banks (a) failing and (b) receiving unlimited depositor coverage.
- caseysoftware 3y agoOn paper, yes. Which is why I also said: > That said, the FDIC ignored their playbook and rules to try to calm things down last March. There's the SOP and there's what they did, there was no relation between the two which means we have no clue what they might do next time.