Barbara Boxer said "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?" @ PoliticalQuotes.com

On the recordApril 15, 2010

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?

Said by

Barbara Boxer

Democratic · California

Source

govinfo.gov

Apr 15, 2010

Editor's note · Context

The speaker discusses the role of the FDIC in protecting taxpayers and bank customers.

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