Remove FDIC cap to prevent future panic

We learned the hard way in 1932 that a crisis in confidence, which could be sparked by baseless rumors, could create a bank run that could bankrupt even a healthy bank. To protect our banking system, in 1933, the federal government created the Federal Deposit Insurance Corp. with the goal to insure depositors against loss.…

You must be a paid subscriber to read this content. To keep reading and receive unlimited access subscribe today for only $1.
Subscribe Now Already a Subscriber? Login now

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.