Description

The FDIC is a private corporations licensed by the US government to insure the banks and savings and loans of the USA. The SIPC is the Securities Investor Protection Corporation. This is a private corporation designed to insure investors who have invested with stockbrokers who have failed or gone bankrupt. It too is a private corporation that can fail or go bankrupt. The point here is these are private corporations specifically chartered by the US government to insure these institutions. If the bank losses are too great and exceed the reserves these companies have then who knows what happens for sure. Best to think doom and gloom.

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