The incoming Trump administration has reportedly started looking into ways to drastically shrink, consolidate or even eliminate the top bank regulators in Washington. This is not smart economics. The FDIC – the Federal Deposit Insurance Company – was created in 1934 during the Great Depression after thousands of banks began to fail. Those who didn’t lose their money right away, panicked and withdrew their deposits – causing what’s known as a ‘bank run’ (famously depicted in Capra’s ‘It’s
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