As reported:
“The Deposit Insurance Fund, which will cover the deposits, is funded with quarterly fees assessed on financial institutions and interest on government bonds.”
Watch all the “fees” that banks and financial institutions will jack up later this week and next to cover their new costs.
The quote above reminds me of politicians saying “this will be paid for by increased taxes on business” without ever stating where business will be the money for the new taxes.
Correct, as alluded to on another thread.
Quasi-private monopoly
Eg. “Become a gold-star member with our no service charge with a minimum balance of xxxxxxx.
(In other words all below are charged) Just one example
These member collusion policies may be intentionally delayed to deflect the “why”
Yes, we will be paying higher fees to pay for it. It’s like they fined PG&E for fires, and everyone’s rates went up. They shouldn’t fine a corporation, but the person or persons who made the decisions that caused the problems. Maybe jail terms on top of fines.