Biden Admin Scrambles to Contain Bank Collapses
CNN Political Briefing
00:00
The President's Plan to Back Depositor's Funds in the Federal Deposit Insurance Fund
The president and his advisors are keenly aware that the American people from both parties have no interest in seeing their taxpayer money bail out banks again. The FDIC uses that fund, the deposit insurance fund, to help pay for operating costs and resolve failed banks. It is partly funded by collecting quarterly fees from FDIC insured banks. As of December 2022, the funds balance was $128.2 billion.
Transcript
Play full episode
