No. I was a banker for a lot of years.
You are wrong.
When you deposit money into the bank it goes on their books as a liability and you become a creditor.
If the bank goes insolvent, the succession of creditors that are paid out go following a specific line of payment. Depositors are third or fourth on the list.
The choice, in the hypothetical case of bail ins, is that you give up 15% of your money (for example), or you get nothing.
In Cyprus anyone with more than $100,000 (or so) got the hair cut on everything over that level.
If your choice is a bail in or complete failure of the system..the fed is not going ask your permission.
You are confusing the Fed with Federal.
Most retirement funds are held by a trustee, not a bank.
Trustees’ first obligation is to the trustor.
You apparently do not understand fiduciary commitment; no surprise if you were in banking, banks are just boxes full of criminals in suits.
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