Quote:
Originally Posted by TheDoc
I believe the laws that give a corporation the same rights a person has, is the issue here - they basically get covered because they are people too.... or maybe one could say the structure of the fed reserve in our system that simply prints money as needed is the issue.
But excluding those factors, would you feel safe keeping your personal/corp money in a bank if it wasn't covered? 100's of banks of failed in the past several years, that's a lot of Americans monies that would have went poof without the FDIC.
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If the FDIC did not exist would I be able to buy private insurance to insure my money? Could the bank have provided private insurance for small fee every month?
Why should the poor who have little or no money in the bank be forced to pay for someone who chooses to keep their money in banks?