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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Eliminating the FDIC does not mean eliminating deposit insurance. That could be done through a department at Treasury. Its supervisory responsibilities could be re-allocated to one of the other bank regulators.[/quote]

The Corporation is a stand alone entity on a statutory basis. No EOs or anything like that underpinning its

Its deposit insurance function and oversight powers cannot be transferred to Treasury or another agency without changing the law. We already have a modern history of precedent - OTS having its responsibilities transferred to the Fed/FDIC/OCC by Dodd Frank Act, FSLIC went insolvent during S&L Crisis and powers transferred to FDIC by FIRREA Act of 1989.

You can’t just shunt the FDIC into the Treasury without Congress acting. [/quote]

Wanna bet?[/quote]

Okay, so they are saying you shouldn't do this, not that you can't.

The reason this PP is saying that you shouldn't do it is not just because it is illegal, which, we all know is not something your crowd cares about at all, but because it would actually break it whole cloth and you won't be able to just patchwork it back together without risking the shattering of our banking framework.

Even if you don't care if you break the banks or the monetary structure of our economy (because Crypto, obviously) literally everyone else in the US other than very poor people will care.

[/quote]

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