When Banks Fail, Why Do We Keep Bailing Out Uninsured Depositors? [The New York Times]
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Source: The New York Times
mentSKIP ADVERTISEMENTSubscriber-only NewsletterPeter CoyWhen Banks Fail, Why Do We Keep Bailing Out Uninsured Depositors?May 1, ,3:55 p.m. ETCredit...Illustration by Sam Whitney/The New York Times; images by jgroup and CSA Images/Getty ImagesBy WriterMichael Ohlrogge has a theory about the Federal Deposit Insurance Corporation, the agency that makes sure ordinary depositors don’t lose their money when their bank goes bust.Ohlrogge, an associate professor at New York University Law School, argues that when banks fail, the F.D.I.C. is not resolving them in the manner that is least costly to its Deposit Insurance Fund.If he’s right, then the F.D.I.C. is going against the explicit instructions of Congress, so this is kind of a big deal. My impression is that F.D.I.C. staffers believe theyareThe issue Ohlrogge raises is how the F.D.I.C. handles uninsured deposits. These are deposits that exceed the F.D.I.C. insurance limit of $250,000 per depositor, per bank, per account owner
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