The mere existence of the FDIC encourages risky behavior by banks and anesthetizes the public regarding the safety of their money. Free-market banking had its own non-governmental version of deposit insurance, but it was run as a real insurance operation, not as the current scam backed by government printing presses.
The mere existence of the FDIC encourages risky behavior by banks and anesthetizes the public regarding the safety of their money. Free-market banking had its own non-governmental version of deposit insurance, but it was run as a real insurance operation, not as the current scam backed by government printing presses.