2009-01-15 — ml-implode.com
"On the other hand, we’re all bank depositors too. If the banks take their medicine it threatens our deposits. And we’ve decided that we like the idea of protecting bank deposits via federal insurance (FDIC).
We’re like a Florida homeowner that decides to insure himself from a hurricane without putting any money aside for a rainy day! We shop for the highest interest rates on bank CDs even though we know these are typically offered by the weakest banks, comforting ourselves that FDIC insurance will be there if our bank fails."
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