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Jeremycycles t1_jch9i93 wrote

Reply to comment by InteractionNOVA2021 in First Republic in talks with major banks about a rescue plan by Powerpuff_Rangers

After the assets are sold. So right now if any regular Joe Schmo bank fails the regular people are fucked

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InteractionNOVA2021 t1_jchciwq wrote

The Deposit Insurance Fund is backed by the U.S. Treasury. The FDIC was bailed out in the 1980's and again after the 2008 Banking Crisis. So, insured depositors are still protected.

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Jeremycycles t1_jchdcee wrote

False, the FDIC is not backed by the treasury but they do invest in treasury securities. The FDIC is completely funded by member banks.

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