Hacker Read

paxys · 2023-03-11 23:13:14

None of that is the FDIC's job.

teej | karma 11426 | avg karma 6.22 · | 2023-03-12 06:24:44

This is not true for FDIC.

twblalock | karma 18047 | avg karma 4.2 · | 2023-03-13 06:10:12

The FDIC also has lots of money, and got none of it from taxpayers.

Finnucane | karma 5191 | avg karma 1.75 · | 2018-05-09 14:39:43+00:00

True, but still not really the FDIC's mission.

adastra22 | karma 6858 | avg karma 2.11 · | 2023-03-14 02:53:45

FDIC did not seize Signature.

nazgulnarsil | karma 6752 | avg karma 2.15 · | 2008-09-22 05:18:48

the FDIC is a joke.

auntienomen | karma 1713 | avg karma 3.03 · | 2023-03-10 20:24:47

FDIC is entirely supported by fees it charges banks. It doesn't get money from the US taxpayers.

giancarlostoro | karma 13964 | avg karma 2.4 · | 2023-03-17 08:05:33

He's not saying the government isn't involved he's saying no government money, or even FDIC money is involved in this.

imgabe | karma 22656 | avg karma 5.61 · | 2021-02-25 01:01:04+00:00

The FDIC doesn't protect you from your bank account getting hacked.

baq | karma 14757 | avg karma 2.44 · | 2023-03-12 12:10:01

The money in FDIC is the banks’ money! Zero taxpayer investment.

bwb | karma 2466 | avg karma 1.85 · | 2023-05-01 16:56:39

FDIC disagrees...

triceratops | karma 5848 | avg karma 1.88 · | 2023-03-10 10:04:28

You're right in general. But the FDIC doesn't sound like that.

justapassenger | karma 5990 | avg karma 4.5 · | 2023-04-29 00:16:47

True. That’s why FDIC should fulfill its obligations. But not anything more.

auntienomen | karma 1713 | avg karma 3.03 · | 2023-03-10 23:55:23

The FDIC isn't the federal government. It is not supported by tax dollars. It's funded by fees FDIC charges to the banks it insures.

patmcc | karma 4216 | avg karma 5.16 · | 2023-11-06 00:27:58

The FDIC isn't publicly funded, it's funded by premiums paid by the banks themselves (and the customers thereof, of course).

fpgaminer | karma 6313 | avg karma 6.56 · | 2017-08-11 03:22:40+00:00

How so? FDIC doesn't cover theft.

notfromhere | karma 2192 | avg karma 2.21 · | 2023-03-12 17:59:19

FDIC gets its money by a fee charged to banks. Tax money isn’t going into this

paxys | karma 66162 | avg karma 7.18 · | 2022-11-13 20:25:57

Irrelevant as long as FDIC exists.

kn0where | karma 823 | avg karma 3.64 · | 2021-08-11 10:27:57

The big difference is the FDIC.

justrealist | karma 913 | avg karma 1.2 · | 2023-04-28 17:12:55

The whole point of the FDIC is that it's not good idea to reward people for participating in a bank run.