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If the $250,000 FDIC cap were real, might this help the economy as a whole?
Posted on 3/15/23 at 12:41 pm
Posted on 3/15/23 at 12:41 pm
By forcing the issue, account holders would have to use multiple banks and accounts to stay within the $250,000 FDIC limit. By using multiple banks, the risk is spread out. The many separate banking institutions can offer more services to more people throughout the economy.
The consolidation must stop and the banking rules enforced. The elite love consolidation and using US taxpayers to further the effort.
The consolidation must stop and the banking rules enforced. The elite love consolidation and using US taxpayers to further the effort.
Posted on 3/15/23 at 12:44 pm to Timeoday
That could theoretically work for consumers but not businesses.
Posted on 3/15/23 at 1:20 pm to Timeoday
quote:You’d have businesses needing 20-30 accounts. You’d have to write payroll at 10 banks.
By forcing the issue, account holders would have to use multiple banks and accounts to stay within the $250,000 FDIC limit. By using multiple banks, the risk is spread out.
OR, you could take your business to a TBTF bank (BofA, Chase, Citi, WF) and have it all guaranteed and no juggling required. What would you?
quote:Screw over depositors, and you’ll not only see more consolidation—you may se outright runs on the small banks you, and I, would prefer to deal with.
The consolidation must stop and the banking rules enforced.
Posted on 3/15/23 at 1:51 pm to Taxing Authority
It's quite obvious that many posters here have no interaction with banks except for their biweekly direct deposit from their employee.
Posted on 3/15/23 at 1:59 pm to El Segundo Guy
quote:
You’d have businesses needing 20-30 accounts. You’d have to write payroll at 10 banks.
I believe the $250,000 FDIC maximum should be used for personal savings/checking accounts only. The FDIC maximum could be lifted to a far higher amount for businesses, provided those increased FDIC maximums are for business operation purposes only.
But, whatever is decided, the rules must be obeyed. Substantial penalties or fines must be imposed if not.
Posted on 3/15/23 at 2:09 pm to Timeoday
How many employees payroll do you think you can process with a 250k cap?
Posted on 3/15/23 at 2:11 pm to Taxing Authority
quote:
You’d have businesses needing 20-30 accounts. You’d have to write payroll at 10 banks.
Exxon would have needed over 118,000 accounts to protect their cash on hand reported 4Q22.
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