Biden Admin Scrambles to Contain Bank Collapses
CNN Political Briefing
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SBB said it had $151.5 billion in uninsured deposits at the end of 2022. Normally, depositors at banks have up to $250,000 in protection per account guaranteed by FDIC. The administration's decision to guarantee all deposits is a quite unique solution. Most experts say it's going to take several days before we see if this is truly contained or not.
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