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by Alupis 1194 days ago
If my bank fails next year, and I don't get infinite deposit insurance - where are we then?

The fact that the FDIC website still says $250k cap is amazingly laughable. It's either unlimited for everyone every time, or it's $250k for everyone every time.

The reality is - it's infinite deposit insurance if you are well connected. Let that sink in folks.
1 comments
dylan604 1193 days ago
obviously this is a rhetorical question, but are you really going to be hurt by the $250k cap? really?

If so, maybe it's time for a better banking plan than "all eggs in one basket"

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Alupis 1193 days ago
The point is not whether or not I personally would be hurt by this, or rather the metaphoric I, for the matter.

The point is the rules where changed mid-game to protect a bunch of very well connected people that played extremely loose with the "rules" and will suffer zero consequences as a result - because my personal dollars are being used to protect them.

Regarding the $250k cap in general - in my opinion, it's far too low. It's lower than the average price of a house in a large amount of the country.

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dylan604 1193 days ago
To be clear, who are the people that "played extremely loose" in your ire? The bank management or the individual bank account holders that had more than $250k in the accounts?

What does the price of a house have to do with the cash-on-hand bank accounts of the average citizen?

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