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Your banking questions, answered
Planet Money
The $250,000 Question
During the financial crisis, Aaron Klein hammered out a proposal for what became known as TARP. The House of Representatives went to vote on it and they voted it down in a shocking vote. It was so shocking that the Dow Jones Industrial Average recorded its biggest closing point drop in history. How did the FDIC insurance amount of $250,000 per deposit get established? Was it arbitrary or was there a particular reason?
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