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Political Discussion
Reply to "So why isn't there a run on Wells Fargo?"
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[quote=Anonymous]OP. Of course the fraudulent accounts don't threaten the viability of the bank. But if people pull out their money and close their accounts, then their viability will be threatened and FDIC will have to take over. FDIC doesn't just shell out deposit insurance money, no questions asked of the leadership. Congress on the other hand loves to hold "hearings" where they read the CEO the Riot Act to give a gullible public the impression they're doing something, and the moment the cameras are off they're having a drink with the CEO and asking him for money. This is one extremely rare opportunity for the public to have a voice by voting with dollars, instead of just casting a vote like bleating sheep every few years for whoever the latest industry shill happens to be.[/quote]
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