Remember that scene at the beginning of It’s a Wonderful Life, where people are all desperately trying to get into the bank because if it fails before they get in, they lose their money? That’s what the FDIC prevents.

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  • silence7@slrpnk.netOP
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    16 hours ago

    There’s also an implicit guarantee that the federal government would step in an make deposits good if there were a bank failure large enough to wipe out the FDIC