[jen20]

Clearly based on this weekend, our existing financial framework is that depositors are entirely protected, provided the bank is important enough to some important demographic.

This should be spelled out in law rather than relying on the existing provision being used ad-hoc, though.

[twblalock]

It's not about the demographic. It's about the consequences to the rest of the banking system. That logic of protecting the system from systemic risk has not changed since the FDIC was founded.