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US Politics 2w
The financial system in this country is literally so rotten that the only reason why banks are as regulated as they are is to protect the FDIC fund. That’s right. It’s to make sure that an insurance fund sustains itself. It’s not to help you or anyone.
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Anonymous 2w

FDIC was made so another bank rush doesn’t happen in a recession like in the 20s fam. It’s literally a help to everyone. No depositor has lost funds since its establishment. 😭

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Anonymous 2w
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Anonymous replying to -> pepe_council 2w

Banks also need to be heavily regulated for several reasons.

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Anonymous replying to -> pepe_council 2w

Yes, I’m aware lmao. But also, in addition to them being able to distabilize the entire domestic economy if they fail, they also primarily neee to be regulated so that FDIC member banks don’t in turn have to put more into the pot to cover the costs of insurance. Since banks cover the FDIC insurance premiums, not the customers of those banks.

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Anonymous replying to -> OP 2w

If they fail, that’s why we have the FDIC bud. It runs like an insurance agency runs, costs increase. If a bank fails it’s not due to insurance premiums it’s due to not being a capable organization.

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