[phphphphp]

That’s not necessary though unless we are to believe that a meaningful amount of money has disappeared. The FDIC offers insurance with a limit for a reason, it’s a fantasy to believe that the FDIC are going to invent a brand new standard of deposit protection because some companies might be forced to take a small haircut on their money.

The bank will re-open, companies will get most of their money, and life will carry on. The FDIC aren’t going to guarantee 100% of deposits, and shouting from the rooftops that a million jobs will be lost if the FDIC don’t do it (which they won’t) is panic-inducing for no discernible reason.

Edit: I intentionally took one for the team by embarrassing myself with a claim disproven less than an hour later. You’re welcome.

[grey-area]

I'm not sure it's as simple as that if the fed don't guarantee deposits, but we'll see tomorrow I guess. The impression I had was these assets can't just be sold right now, today, without booking substantial losses.