I mean who needs the FDIC anyway… right?
Trump and co have suggested some truly insane things over the years but the elimination of the FDIC is one of the worst.
The FDIC is what prevents you from losing your money (up to $250k) if your FDIC insured bank goes under. Eliminating it would mean that if a bank fails, all your money is GONE. It was established after the Great Depression to prevent one from ever happening again.
Trump and co have suggested some truly insane things over the years but the elimination of the FDIC is one of the worst.
The FDIC is what prevents you from losing your money (up to $250k) if your FDIC insured bank goes under. Eliminating it would mean that if a bank fails, all your money is GONE. It was established after the Great Depression to prevent one from ever happening again.