Remember that scene at the beginning of It’s a Wonderful Life, where people are all desperately trying to get into the bank because if it fails before they get in, they lose their money? That’s what the FDIC prevents.
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Not even remotely true. In the 2008 financial crisis, between 2008 and 2012 , there were nearly 500 bank failures, and more than a trillion in assets involved and the FDIC covered every cent labeled to be covered.