The targeting of the FDIC could dangerously erode its ability to manage financial crises, like the one that occurred in 2008.

I could have used FDIC insured deposits but the Fed was a ... $29 trillion, mostly secret, unprecedented, and unwarranted bail-out. That’s what it was. And get ready. The financial system ...

The FDIC had to spend $31.6 billion of taxpayer money to reimburse depositors for their losses: $16.1 billion for Silicon Valley, $13 billion for First Republic and $2.5 billion for Signature.

The Fed has been talking to regulators in Scandinavia about their banking bailout of 1991-1993, which led to forced nationalisations of undercapitalised banks. Can a public bailout ever be good news?