FDIC only covers small deposits. One hundred thousand dollars per institution. Kiss it good-bye.
TL
Enrique Diaz-Alvarez wrote:
> > FDIC
> > (and is this going to disappear, does anybody know?).
>
> Are you kidding? Socialization of risk and financial losses is the centerpiece
> of modern capitalism. Not only FDIC will not be abolished, the mergers will
> extend it to investment banks, thus making the implicit taxpayer guarantee of
> every major and midsize financial institution explicit.
>
> >
> >
> > Tom Frank