The whole argument is whether uninsured deposits should be provided by the FDIC. I have no problems with the insured amount being returned to customers.
The FDIC is a government owned business and shouldn’t be acting outside of it’s financial interests and obligations.
The other good news is that it will probably net out to costing little to nothing in the long term as they had enough assets to cover liabilities -- it was a liquidity crunch. Seems very much relevant to what the FDIC was created for -- to make depositors whole and stop contagion. It would be different if the bank was not properly asset backed.
yunwal|3 years ago
The FDIC is a government owned business and shouldn’t be acting outside of it’s financial interests and obligations.
wstuartcl|3 years ago