A Trump appointee will likely take over the Federal Deposit Insurance Corp. has been refusing cover for consumer deposits to many aspirant banks;
If the FDIC does allow (for instance) some of the Big Tech firms with large marketing budgets & brand recognition to enter banking, what might happen?
They'll claim innovation, but as banking offers private profits & socialised risks, the US Govt. will end up picking up the tab if it all goes wrong; a one-sided bet for the TechBros
#banking #USpol
Emeritus Prof Christopher May
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2024-11-29 13:58:15 UTC
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2024-11-29 13:58:15 UTCEvent JSON
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