Why wasn't the FDIC abolished after TARP?
Why is deposit insurance over 50k?
Econ bros; help me understand this!
Why is the FDIC 250k???
Samuel Ross
Liam Myers
Why would it have been abolished?
Thomas Young
No.
Christopher Carter
take your cash out of the bank and/or buy hard assets
Christopher Gonzalez
Because something like 75% of the population keep their savings in cash so it helps protect them. Only the wealthy own stocks and bonds
James Brooks
If the FDIC was abolished people would not keep their money in the bank because everyone knows how fucking crooked banks are.
William Ward
Because if the government guarantees that an institution will not collapse there is no reason for deposit insurance.
Jace Russell
>If the FDIC was abolished people would not keep their money in the bank because everyone knows how fucking crooked banks are
Only 15% of Americans know what the FDIC even is
Jace Richardson
If you have enough in the bank to be worried about losing it, you know what FDIC is.
Connor Smith
>whoops due to an error that we are responsible for there's no money in your account
>no, you're not getting it back, it says right here (where we wrote it) that you authorized the withdraw of all your money
Are you one of those paid shills that gets money for each thread they post? You suck at your job
>hurrrrrrrrrrrrrrrrrr we should all have less protection, it's totally good fellow goys!!
Noah Kelly
Because they're different programs that serve different purposes? Without TARP, if someone like Citibank collapsed next, the depositors who have their paychecks deposited there would be protected but not the bank itself as the lender of the bad mortgages. FDIC doesn't bail out banks and TARP didn't protect depositors. That's why they "needed" both, once they decided saving bad banks was going to be what they did. FDIC has been around since the 1930s. Take a guess why.
Henry Morales
thats how mafia works
Jeremiah Hughes
>If you have enough in the bank to be worried about losing it, you know what FDIC is.
If you keep over 250k in cash in a bank you are a dumbass
Asher Green
>we should all have less protection, it's totally good fellow goys!!
Is there ass wiping insurance too?
Tyler Morgan
>FDIC has been around since the 1930s. Take a guess why.
Because boomers should hang. FDIC does nothing for my children. Fuck them.
Cameron Diaz
>thats how mafia works
I know.
Daniel Foster
Before the 2008 recession it was only $100K if I remember correctly.
Aaron Ramirez
In theory, but the FDIC has never paid out anything yet.
Jack Butler
The FDIC began in the 1930s during the Great Depression. The only thing TARP did was increase the limit from 100k to 250k.
Mason Adams
>the FDIC has never paid out anything yet.
In almost 100 years
Hmmmm
Where have all the premiums gone????
Joseph Anderson
>Before the 2008 recession it was only $100K if I remember correctly.
Given the median wage FDIC only.makes sense up to 15k.