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> Right, but didn't B of A just move a whole lot of speculative accounts over to their FDIC guaranteed banking sector?
This is exactly the problem. Half-serious banking regulation would require "ring-fencing," as the Brits say, the speculative stuff and leaving the deposit-funded bread and butter banking, like commercial & industrial and routine consumer loans separate. The latter would be FDIC guaranteed. The former, they'd be on their own.
Doug ___________________________________
Right, so all I'm saying is that credit unions would never have this speculative side because they're not allowed to have that. In other words, they're kinda like banks when banks used to be boring and just provide the plumbing for the circulation of money.
Joanna