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No, you're thinking of the value of a safe, or did you forget the economic collapse of all those regulated banks in 2008?
by growupkids 13y ago
No, you're thinking of the value of a safe, or did you forget the economic collapse of all those regulated banks in 2008?
- deleted 13y ago[deleted]
- wpietri 13y agoNo consumer lost money in a US bank in 2008. The FDIC and its related organizations protected depositors for $100,000 per person per bank. That was upped to $250,000 during the crisis. Anybody interested in what happened from that perspective should read Shelia Bair's "Bull by the Horns". It's a readable and engaging account of the financial crisis from her experience as the head of the FDIC. She's a Republican and along the way makes a great Republican case for the value of strong financial regulation as necessary to an effective market economy.
- 300bps 13y agoNo consumer lost money in a US bank in 2008. This is a different statement than: The FDIC ... protected depositors for $100,000 per person per bank There were several consumers that lost money in a US bank in 2008 because they had over the insured amount in their account. http://www.fdic.gov/consumers/consumer/news/cnspr00/pg8stry.html http://www.fdic.gov/consumers/consumer/news/cnspr00/pg8stry....
- wpietri 13y agoI agree they aren't the same. I thought the former was true, but can't find a citation for it now. Your link, by the way, doesn't prove otherwise.