Quote:
Originally Posted by cmyx6go
The $250K limit for people, I agree. If you exceed that, open an account at another bank. Businesses are different. They can’t operate limiting accounts to $250k.
Not talking about the bailout, just the limits.
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Yes, we agree here... people knew the risks... the businesses we can argue didn't... but what laws or insurance is there to protect businesses? Is it just the "supposed" good faith of the government backing the bank up... sadly that sounds like a can't fail at all costs scenario which is really bad... i could see any major corporation making the same argument tomorrow if tons of folks 401k's are tied up etc... also, saving a bank while at the same time raising interest rates to increase unemployment is wild... this situation is so screwed i don't even know where to start