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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I've started withdrawing money from my bank account. I'm not ready to pull out all of my cash yet. I haven't fully accepted that the FDIC will fail.[/quote] If FDIC insurance goes away, that is game over for the banking system worldwide. It would be so destabilizing that the US would not recover and it would take every other country down, too. [/quote] FDIC as an agency could go away. But the essential function of insuring deposits will have to be taken over by Treasury or whatever.[/quote] You’d need an act of Congress to do this. There’s multiple precedents in the last few decades.[/quote]
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