The Importance of Skepticism in the Banking Sector

Robert Michelle: We want people to have an appropriate level of skepticism toward the quality of institutions in which they have their money. He says as we cover more and more deposits, larger and larger accounts, we give more and more people an incentive to not care about what the heck's going on in the bank. "The appearance of looking like you might not be doing something that is either smart or ethical is good enough for a lot of depositors to say, well, I'm out of here," he says.