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| The FDIC ... https://gladerebooted.net/viewtopic.php?f=8&t=371 |
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| Author: | Khross [ Wed Sep 30, 2009 12:25 pm ] |
| Post subject: | The FDIC ... |
Good Thing or Bad Thing? And why? |
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| Author: | Ladas [ Wed Sep 30, 2009 12:56 pm ] |
| Post subject: | |
Just "a thing", neither inherently good or bad. Some would argue that the creation of the FDIC restored the public's willingness to place their money back into banks, rather than in mason jars, and that those deposits created an environment by which economic growth could occur. Others would point out that the "insurance" offered by the FDIC created a higher level of risk taking on the part of banks, because the money of their depositor's was protected (up to a certain level of course). Some would also point out that the resources paid into the FDIC by the banks to support the insurance is capital removed from the system that could be better used in circulation. I'm pretty sure I have seen Aizle make comments supporting the first, and you supporting the second Khross (and maybe the third). So, is it the policies of the FDIC, or the original intent, to which you wish the question answered? |
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| Author: | Arathain Kelvar [ Wed Sep 30, 2009 1:19 pm ] |
| Post subject: | |
Good thing if managed right |
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| Author: | Khross [ Wed Sep 30, 2009 1:20 pm ] |
| Post subject: | Re: |
Arathain Kelvar wrote: Good thing if managed right Why do you say this?
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| Author: | Arathain Kelvar [ Wed Sep 30, 2009 1:23 pm ] |
| Post subject: | Re: Re: |
Khross wrote: Arathain Kelvar wrote: Good thing if managed right Why do you say this?Because you asked? |
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| Author: | Khross [ Wed Sep 30, 2009 1:26 pm ] |
| Post subject: | Re: The FDIC ... |
Arathain: No, seriously. Why do you think the FDIC is a "good thing if managed properly"? |
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| Author: | Arathain Kelvar [ Wed Sep 30, 2009 1:32 pm ] |
| Post subject: | |
It's good for investors. If a bank goes belly up they get their cash. A voluntary program is no different from insurance from any other business you employ. I don't hire contractors that aren't insured, and I wouldn't put my life savings in a bank that wasn't insured. |
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| Author: | Elmarnieh [ Wed Sep 30, 2009 1:33 pm ] |
| Post subject: | |
Bad - it encourages risk, it also stops competition in banking insurance and offers a false sense of security to users (read their return policy). |
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| Author: | Khross [ Wed Sep 30, 2009 1:36 pm ] |
| Post subject: | Re: |
Arathain Kelvar wrote: It's good for investors. If a bank goes belly up they get their cash. A voluntary program is no different from insurance from any other business you employ. I don't hire contractors that aren't insured, and I wouldn't put my life savings in a bank that wasn't insured. The FDIC is not voluntary. You are aware of this, right?
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| Author: | Diamondeye [ Wed Sep 30, 2009 1:55 pm ] |
| Post subject: | Re: |
Elmarnieh wrote: Bad - it encourages risk, it also stops competition in banking insurance and offers a false sense of security to users (read their return policy). What banking insurance existed at its inception to stop the competition of? |
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| Author: | Arathain Kelvar [ Wed Sep 30, 2009 1:57 pm ] |
| Post subject: | Re: Re: |
Khross wrote: Arathain Kelvar wrote: It's good for investors. If a bank goes belly up they get their cash. A voluntary program is no different from insurance from any other business you employ. I don't hire contractors that aren't insured, and I wouldn't put my life savings in a bank that wasn't insured. The FDIC is not voluntary. You are aware of this, right?Yes, and I don't think it's managed properly. |
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| Author: | Khross [ Wed Sep 30, 2009 2:03 pm ] |
| Post subject: | Re: The FDIC ... |
Arathain: Alright, then you're advocating for private insurance of deposits secured by individual banks on a contract basis? |
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| Author: | Arathain Kelvar [ Wed Sep 30, 2009 2:10 pm ] |
| Post subject: | Re: The FDIC ... |
Khross wrote: Arathain: Alright, then you're advocating for private insurance of deposits secured by individual banks on a contract basis? Yes, but I don't trust a regular insurance company not to go broke as well given the vast sums we are talking about. I don't have a problem with it being backed by the federal government. |
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