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A comment on IRS Files $44B Claims Against Bankrupt FTX. Parent comment

Re:IRS Files $44B Claims Against Bankrupt FTX by e63f67dd-065b on Thursday May 11, 2023 @03:51PM (#35907543)
This reminds me of an old finance joke my professor told me (this was when rates were 0): if somebody offers you 20% interest p.a. on an FDIC insured account, and you put in $1,000,000 today, how much money will you have in 5 years?

The correct answer is 0, because you're being scammed.

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Re:IRS Files $44B Claims Against Bankrupt FTX by TinyRick on Thursday May 11, 2023 @07:01PM (#35909488)
Wouldn't the correct answer be $250k due to the FDIC insurance?
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Re:IRS Files $44B Claims Against Bankrupt FTX by thallium205 on Thursday May 11, 2023 @07:16PM (#35909639)
Today’s FDIC would reimburse the full amount and honor the investment terms.
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Re:IRS Files $44B Claims Against Bankrupt FTX by Rexxar on Thursday May 11, 2023 @07:16PM (#35909638)
Why would they be honest on FDIC insurance if they lie on rate ?
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Re:IRS Files $44B Claims Against Bankrupt FTX by e63f67dd-065b on Friday May 19, 2023 @02:23AM (#35998453)
Late reply, but basically:

I pinky swear that my NotAScamBank is FDIC insured, and that it has 20% interest p.a., would you like to deposit money with me?

Obviously the FDIC is gonna take a look and say "hah no, go away", NotAScamBank knows this, and won't even bother applying. It's a scam, why would they be honest about FDIC status?

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