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Economy

LonePirate

(13,948 posts)

5. We seriously need to lift the $250K FDIC cap. That won't cover monthly payroll for many businesses.

Reply to Tetrachloride (Original post)

Sat Mar 11, 2023, 11:12 AM

Mar 2023

Large businesses going through $250K in a day or even less. The current $250K is unsustainable.

Most people and businesses who use commercial banks are not bad actors and fraudsters. There is no reason to risk their assets along with the livelihoods of thousands or hundreds of thousands of bad actors. We need more regulations and supervision. Perhaps we need government owned and operated banks. Whatever it is, we need something.

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Silicon Valley Bank - 89 percent not covered by insurance [View all] Tetrachloride Mar 2023 OP

This is really bad Casady1 Mar 2023 #1

Bitcoin is looking remarkably stable by comparison Blues Heron Mar 2023 #2

Yeah. With Bitty, we ain't lost 3Hotdogs Mar 2023 #3

I bailed on most of mine, just kept a crumb in case it goes to a million Blues Heron Mar 2023 #4

We seriously need to lift the $250K FDIC cap. That won't cover monthly payroll for many businesses. LonePirate Mar 2023 #5

No we don't - $250k is more than enough for individual depositors Fiendish Thingy Mar 2023 #6

Plenty of medium sized businesses with 100-200 employees are not owned by corporations. LonePirate Mar 2023 #7

This bank existed to raise venture capital funds for tech startups Fiendish Thingy Mar 2023 #10

Is it more important to assist the innocent or to punish the guilty? LonePirate Mar 2023 #11

$250k plus 37% equals $342k Fiendish Thingy Mar 2023 #12

So you're OK with people losing jobs and homes through no fault of their employer? LonePirate Mar 2023 #13

I'm for returning to stricter bank regulations Fiendish Thingy Mar 2023 #14

I just checked, and the money in my mattress is still all there. ;) Chainfire Mar 2023 #8

The Special Corporate Deposit Insurance Company CanonRay Mar 2023 #9

The money-multiplier in reverse bucolic_frolic Mar 2023 #15