/biz/ - Business & Finance

When they say my savings account is FDIC insured to $250K, does that mean per account? Per bank? Or per person? Like if I have multiple $250K accounts at different banks are they all insured?

So let me get this straight.
For the last 50 years, small businesses needed to do banking with sums that exceeded the FDIC cutoff. They managed to get by. Surely there was a form of private insurance for sums about 250k? I don't understand how this cutoff point was considered acceptable for all of the past, and now suddenly it's obscene for a small business to use multiple banks or pay for some private insurance?

>what you expect to use like 100 banks to maximize FDIC?
So what the fuck did you do earlier for the last few decades?

Nobody seriously thinks this shit is real right?

>ah geez dood, 250 billys? i can spot you for, like, 250k right now bro...
what the fuck? give me my money

This is what the FDIC physically seizing a bank looks like if you are curious.

https://www.youtube.com/watch?v=TAE8i40A5uI

What is the point of FDIC if banks have 0% reserve requirements and they can bail in deposits? It's literally just a taxpayer baghold for banks to take extra risk...