(Remember the FDIC covers $250000)......lol
Well if you look on their website it looks to me that they have a balance of $128.2 billion in funds....
yet CNBC reports that.....
— A record $2 trillion surge in cash has hit the deposit accounts of U.S. banks since the coronavirus first struck the U.S..........
And we can only imagine how many trillions of cash deposits were in before..
So how many banks would have to fail before the FDIC would be broke....i seem to recall seeing somewhere that they could only cover approx 1.4 cents on the dollar. if every bank failed..lets pray that day never comes
So as strange as it would be a person might be better off if his bank did fail first in line and he got his money back...
but if all goes to @@@@@@#@ theres always the bank bailins...