The FDIC's 10% Cutback on Uninsured Depositors

"I was 100% opposed to it, they should at least have taken a haircut," he says. "This is not about just a bunch of wealthy venture capital firms that might have lost access to 10% of their funds" If you're a treasurer for a small business and you're seeing these other companies unable to pay their employees, what are you gonna do? Obama: The last thing the Biden administration wants to see is disturbance in the economy because if there's no disturbance, you probably win reelection.