Franklin was right that there are only 2 guarantees but one of them is not Uncle Sam guaranteeing and paying all bank deposits! Bad enough that they were guaranteeing deposits up to $250,000 but now the idiot red herring Betty Warren wants a 100% deposit guarantee. This is a direct result of idiot Pelosi’s campaign contributors demanding this as a result of the collapse of their bank SVB.
What this means is that the US banking system will collapse sooner rather than later. Instead of having $250,000 in one bank consider putting $50,000 in 5 banks! Don’t put all of your eggs in one basket. The US is currently guaranteeing payment on bank deposits of 20 trillion, mortgages of 8 trillion, college loans of 2 trillion, plus the federal debt of 32 trillion!
And that is all I’m going to say about that!