this post was submitted on 14 Mar 2025
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Well… FDIC only insures $250k per deposit account. If shit really hits the fan, FDIC doesn’t have enough cash to bail out everybody. Guess who will lose most of their money proportionally to their total wealth? Hint: not rich people who diversified their wealth.
I remember in 2008 when the banks lost billions and had crashed, so the governments took literally all the tax payers money and bailed them out.
The system literally cannot be rigged more in their favour. It is impossible for them to fail because they are insured with your money.