Quote:
Originally Posted by Splum
How is it "insurance" when YOUR TAX DOLLARS are protecting your OWN BANK account so the banks can make money off of your money?  
The title is not wrong at all, you are just blind. |
Very simple... if shit hits the fan the Fed will create dollars to meet FDIC's obligations. FDIC guarantees up to $250,000 in your bank account, but nobody guarantees how much $250,000 will actually be worth when this is all over.