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Are Big Banks safe?

The truth about the FDIC

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It's insurance - and insurance has loopholes

The FDIC guarantees your bank deposit right?

No, not quite.

The FDIC "insures" them.

What happens when an insurance company goes broke?

You don't get paid.

It's that darn simple, but most people don't realize that.

But the government will come to the rescue if the FDIC fund gets tapped out, right?

Maybe, maybe not.

It depends on the size of the problem - and the problem is very, very, very large. (Did I say "very.)