Bank Runs Feared

[randallscott35]

Originally Posted by dalakhani

Randall-

Im not going to deny your point about the FDIC. It is a colossal (sp?) fraud when put up even against AIG. You simply can't guarantee a zillion times over your assets.

At the same time, an FDIC collapse would spell an economic collapse because that would be one of the last dominoes to fall. No? And if that is the case, WHERE we have our "money" would be the least of our problems. No?

But remember what countries have done when they have even selectively defaulted....Argentina basically made it so you could only take out "x" from a bank account during a time period and changed the nature of the accounts themselves with regard to currency change transactions...I would agree it is a very small chance, I just don't view FDIC the same way as most is all.