Re:Urgent: Sign the petition now
by kelnos on Saturday March 11, 2023 @08:43PM
(#35115404)
> When I put my money in the bank, I don’t consider that an “investment” and neither did the employees.
No, but you should be aware that if you put money into a deposit account, and the bank fails, you are only guaranteed (by the FDIC) to get $250k of that money back. This is usually not a problem, as most individuals don't have that much cash, period, let alone in a single bank account.
But it's a problem for businesses, obviously. And yes:
> Could the CFOs at these companies known they were making risky bets
Absolutely! Putting more than the FDIC-insured max into a deposit account is an obvious risk that any CFO (or corporate finance person in general) will absolutely know about.
No, but you should be aware that if you put money into a deposit account, and the bank fails, you are only guaranteed (by the FDIC) to get $250k of that money back. This is usually not a problem, as most individuals don't have that much cash, period, let alone in a single bank account.
But it's a problem for businesses, obviously. And yes:
> Could the CFOs at these companies known they were making risky bets
Absolutely! Putting more than the FDIC-insured max into a deposit account is an obvious risk that any CFO (or corporate finance person in general) will absolutely know about.