I would say to my friend, because he is an expert on this--and years ago I was on the Banking Committee, and am no longer there--I want to make sure I understand if I am right on this: I think the American people have appreciated the FDIC over the years, because the FDIC was another way for taxpayers to be kept out of a problem, because it is an insurance fund. The banks are taxed and they put the money into the fund. And if there is, in fact, a bankruptcy, you are covered. Right now I think it is up to $250,000. Am I correct?
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