The FDIC is Using Up It's Cash to Protect Wealthy Uninsured Depositors

The FDIC has now used more than a quarter of the entire Deposit Insurance Fund to reimburse uninsured depositors from Silicon Valley Bank, Signature Bank, and now First Republic Bank. This is contrary to both the spirit and wording of the law and now the FDIC is at risk of running out of money leaving the people it was meant to protect without a lifeboat!

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