Those are not “retail” banks, Those are “Too big to fail” investment banks. They couldn’t care less about FDIC coverage.
They made a lot of money from those phone calls.
Right on every point.
We could all make a lot of money if we had that kind of favored access. Likewise, we could also make a lot of money if the Federal Reserve made money available to us at rates that virtually guarantee profits like they do for the banks.
The only ‘privilege’ we get is paying ever higher taxes that get funneled to the elites.