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Old 05-05-2023, 08:28 AM
Boomer Boomer is offline
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Default Question about FDIC insurance and brokered CDs
I don’t think this is over.

Looks to me like when Congress voted in 2018 to soften bank regulations, they sent the fox to guard the chicken house.

Can someone here explain how things work when the FDIC insurance has to kick in? Could it become a convoluted mess that takes a long time to get your money back? I hope someone can enlighten me…..just in case.

(I understand the insured limits — for regular people. But those who ignored the limits willy-nilly are still getting paid by the FDIC. I know that decision was based on the potential for long range fallout because there was seriously big money on deposit for running businesses, and I guess there were certain banks that could supposedly handle those kinds of deposits. But how long can that kind of thing continue if the FDIC decides to pay out more to the technically uninsured?)

These sure are some weird, weird financial times.

Boomer
Last edited by Boomer; 05-05-2023 at 09:01 AM. Reason: Accidentally bumped submit too soon and had to fix it