[dboreham]

Although I knew about the FDIC coverage limit, it seems many did not. I've never had enough cash to test this, but I suppose I assumed if you put $251K in a bank account the web page turns red or something, or a dude calls you up to warn you that the last $1K is at risk. I'm guessing now that doesn't happen.

[sidewndr46]

Most depositors treat US banks as magic entities where they can safely store unlimited amounts of funds.

Why, I do not understand.