If my math is right the FDIC had ~$128 billion on hand to cover 19 trillion of deposits. The FRC deal cost the FDIC $13 billion which means we now have ~$115 billion at the FDIC to cover $19 trillion of deposits or something like a 0.6% coverage.
Meanwhile we're also handing FRC to JP Morgan with undisclosed terms from the FDIC.
And people still think bitcoin is a scam. lmao people have no fucking idea
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Although supremely skilled in swordplay, the Black Knight suffers from unchecked overconfidence and a staunch refusal ever to give up.
Sounds about right.
