They are FDIC insured. I heard this at least 10x this weekend.
Discussion
They weren’t told to care
Do they not see the consequences of FDIC insurance, or do they just not care?
They don’t see the consequences. Only one of 8 became concerned with the 1.26% FDIC coverage stat and we had a good orange pilling session yesterday. The rest say that the US would never allow banks to fail and hurt their citizens.
I wonder how often they will need to do what they did yesterday?
Lol. I had a buddy say "Don't we have insurance up to $250k? I think I heard that somewhere. Could be wrong."