Oprah You Get A

That is incorrect. The FDIC guarantees a MINIMUM of $250,000 per depositor. There is no limit, if the FDIC so chooses.

When it says “backed by the full faith and credit of the U.S. government”, that means by the taxpayers, one way or another.

The insurance fund collects fees from the banks. If your IRA/401k owns any bank shares, guess who ultimately paid into the insurance fund.

Besides the three banks which just floundered, other banks combined have a total of about $620 billion at risk. The FDIC only had $125 billion in the insurance found before SV Bank lost $150 billion.

Let’s rob Peter to pay Paul.

Actually they set the cap to 250k per account and 2.5 Million per person for SVB

You really should be cheering that all these scumbags just lost most if their money. No investors losses are covered either. I WISH SOMEONE HAD PURCHASED PUT OPTIONS FIRST!!!

LOL