If depositors get 100% back (I assume the government pays the difference between selling SBV assets & the deposits)...then what's the purpose of saying "FDIC Insured up to $250k"? It's a moot then isn't it? I don't need to go through the hassle of distributing my money anymore?
Edit: I read the article. Yellen says "“But we are concerned about depositors, and we’re focused on trying to meet their needs.”
She says NOTHING about depositors getting 100% back. It could be that they get the share of deposits back faster.
Edit: I read the article. Yellen says "“But we are concerned about depositors, and we’re focused on trying to meet their needs.”
She says NOTHING about depositors getting 100% back. It could be that they get the share of deposits back faster.