Quotes & Sayings About Fdic

I suggest a Money Market account with no penalties and full check-writing privileges for your emergency fund. We have a large emergency fund for our household in a mutual-fund company Money Market account. Wherever you get your mutual funds, look at the website to find Money Market accounts that pay interest equal to one-year CDs. I haven't found bank Money Market accounts to be competitive. The FDIC does not insure the mutual-fund Money Market accounts, but I keep mine there anyway because I've never known one to fail. Keep in mind that the interest earned is not the main thing. The main thing is that the money is available to cover emergencies. Your wealth building is not going to happen in this account; that will come later, in other places. This account is more like insurance against rainy days than it is investing. — Dave Ramsey

Starting in 1792 with George Washington, there were financial crises every ten to fifteen years. Panics, bank runs, credit freezes, crashes, depressions. People lost their farms, families were wiped out. This went on for more than a hundred years, until the Great Depression, when Oklahoma turned to dust. "We can do better than this." Americans said. "We don't need to go back to the boom-and-bust cycle." The Great Depression produced three regulations:
The FDIC-your bank deposits were safe.
Glass-Steagall-banks couldn't go crazy with your money.
The SEC-stock markets would be tightly controlled.
For fifty years, these rules kept America from having another financial crisis. Not one panic or meltdown or freeze. They gave Americans security and prosperity. Banking was dull. The country produced the greatest middle class the world had ever seen. — Elizabeth Warren

We support too big to fail. We want the government to be able to take down a big bank like JP Morgan and it could be done. We think Dodd-Frank, which we supported parts of, gave the FDIC the authority to take down a big bank. — Jamie Dimon

Trust, like money, needed a guarantee to back it. — Seth Dickinson

You can't fall back on the private sector and say, 'You take care of the nation's banking system.' That's a fundamental function of the government, the Federal Reserve, the Treasury and the FDIC, etc. All of those agencies have a major role to play there. — Dick Cheney

This is what I would like to hold on to. Please help me memorize this feeling of contentment and help me always support it. I'm putting this happiness in a bank somewhere, not merely FDIC protected but guarded by my four spirit brothers, held there as insurance against future trials in life. — Elizabeth Gilbert