Well, she’s right. Some state-run banks are not covered by FDIC, though there may be a state program that insures deposits. Also, unlike deposits in bank money market accounts, deposits in money market funds are not covered under FDIC. A lot of investors have deposits in in money market funds, because they pay higher rates than bank MM accounts.
I sort of see what you are saying. Sort of.
But Jelly Yellen gave an alarmingly honest detail there. It depends …. Is there SYSTEMIC risk?
Hmmm…. Well there is a new concept under the law. /s
Jelly Yellen seems to be as stupid as VP K. Harris. How do these incompetent goobs keep turning up in important roles?
About 4% of the investors in SVB were under the 250,000 limit.
The precious gubermint covered 100% of all depositors in that holding bank.
All leftists.