Remember that scene at the beginning of It’s a Wonderful Life, where people are all desperately trying to get into the bank because if it fails before they get in, they lose their money? That’s what the FDIC prevents.
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Yeah. FDIC insurance is the only reason each of us will be left with up to
100k250k per bank account, if our banks go under. And most of us have less than 100k in savings, so it’s basically the US government sayingI can’t even be bothered to hear how his minions are going to defend this one. It’s indefensible.
Why would they need to defend it? They already won.
They won’t defend it. They have torn out their ear drums to criticism. They will hear no evil about the man.
It’s 100k per account per bank, IIRC
It was. Got raised to 250k a few years back
It’s also more if it’s a joint account.
You did not remember correctly. This is disclosed on every savings account with a bank that is insured by the FDIC. The limit was raised several years ago.
Sounds like I remembered correctly, although my information was outdated