The FDIC was the very instrumental is provoking the savings and loan crisis in the recent past. The savings and loan industry was enabled to gather large sums of “risk free” savings and then make risky loans without hurting their depositors. Meanwhile, the taxpayer was left holding the bag to cover the risky loans gone bad.
Well I wondered about that. In the old movies, banks always had armed guards, and then any would-be bank robbers had the townspeople - whose money was on deposit - to deal with.
Is it even legal to have an armed guard at a bank anymore? I have no idea.