Quote:
Originally Posted by IllTestYourGirls
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?
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We didn't have private insurance before the FDIC. What if Private Insurance covered BoA and BoA some how did this loop-o-fuck-everyone on them, and your money was covered by this Insurance company, but it just went poof.... what then?
The bank, like the FDIC, is is an extension of the reserve/treasury.... the insurance fee, errr interest, is paid for by the bank and I think based on how much money or loans, etc they do or have, something like that at least.
Other than screwing us all over, a poor person doesn't pay for fdic through taxes and I'm not really sure how those free community banks make money now, but if they aren't charging a person anything, I don't see how the person is paying for the insurance either.