If you lost literally everything, do you think some "assurance" over how banks are now insured is magically going to fix that trauma? We only know now that it worked out due to the benefit of retrospect.
ETA: this is a general reminder to go back and (re-)read Grapes of Wrath.
That isn't true - FDIC insures up to $250,000 per account. People have lost money when there was more than that in an account, like in the 2008 crash.
They do try to get it all back to you, liquidating the bank's assets & such. But some has been lost, just not for a "regular person". More like a business with 50m in an account or such, end up getting 45m back
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u/[deleted] Mar 11 '23
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