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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]

Nothing would shock me at this point.  Trump is allowing Musk to do whatever he wants, especially with large volumes of data, knowing that he (Trump) didn't do it, and can't be held accountable in the future. It's happening so fast, and without any recourse.  It might be against the law to do much of what is being reported, but that doesn't seen to matter and there is no sign of it slowing down. There will be a run on the stock market and banks, as people won't not which way to turn, or what is or isn't illegal.  Having cash on hand will be their only protection.[/quote]

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