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this post was submitted on 14 Aug 2024
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Asklemmy
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Hugh government bail out (American here). Taxpayer gets stuck with the bill. Companies loose nothing (probably make even more than way).
FDIC would get the test of its lifetime, but for sure the government would step in to protect the market. Some level of that would come from taxpayers’ pockets.
Pretty sure FDIC (Federal Deposit Insurance Corporation) is for deposits only, not debts. The politicians would never let their donors suffer.
True, I was mainly responding to folks talking about banks going under and people “losing everything.” The FDIC was specifically set up to avoid that happening again.