Why “FDIC” is being discussed
The most recent Hacker News stories and comments contributing to this topic's mentions.
FDIC insurance is mostly unrelated to this. If someone hacks a brokerage, sells a bunch of customer assets for cash, adds new bank accounts for those customers, and then withdra…
by baobabKoodaa · Oct 31, 2026
FDIC insures deposits up to 250k. Big institutions basically all have this government backing. If an incident occurs, FDIC has deposits available next business day in event of a…
by spacephysics · Oct 31, 2026
Sure. We're still waiting to hear how that translated into depositors taking losses and shareholders getting bailed out, though. I mean, look, you can point to some losses by de…
by AnimalMuppet · Oct 30, 2026
> fed was always a backstop to the FDIC by design No. The FDIC can borrow from the Treasury . Not the Fed. The Fed backstops’ banks liquidity. The FDIC backstops banks’ solvency…
by JumpCrisscross · Oct 30, 2026
The fed was always a backstop to the FDIC by design. None of what happened suggests depositors "almost got wiped out."
by mastax · Oct 30, 2026
There is really no comparison. Frozen credit markets would have dragged the global economy into depression. A crash in tech stocks will just cause investors to lose some wealth.…
by tootie · Oct 30, 2026
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The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this has been increased several times over the years. FDIC deposit insurance covers up to $250,000 per depositor, per FDIC-insured bank, for each account ownership category. FDIC insurance is backed by the full faith and credit of the government of the United States, and according to the FDIC, "since its start in 1933 no depositor has ever lost a penny of FDIC-insured funds". Read more on Wikipedia