[xtracto]

This raises some pretty interesting thoughts to the table that I think many people don't see:

Yes, 95% of the US population don't have more than $250,000. Let's say that that 95% has on average something like $5,000 in saving/actives. The problem is not that the FDIC will not "honor" those millions of $5,000 checks. The problem is that most of those "actives" are actually managed by other entities, who "bulk load" the money into bank accounts. Adding those up will make more than $250,000 pretty quickly. So the question still remains: If a bank goes under, and say, a hedge-fund with retirement money is saving a good chunk of its customer funds in said bank under a consolidated account with more than $250,000. Will the FDIC cover the excess to make the hedge-fund whole?

It's like the farce that a lot of those Crypto centralized companies put in their websites: "We are FDIC insured" ... well yeah, their accounts might be FDIC insured, but it is only THEIR first $250,000 that is insured, not the first $250,000 of each of their customers.