That was not true at IndyMac.
If you think the FDIC has the equivalent amount of money of ALL bank accounts, well, enjoy your fantasy.
Dude, I never said that.
All I did say was if the FDIC defaults, so goes the entire banking system. If BofA goes under and the FDIC doesn’t honor their obligations no bank will survive including wherever you bank. It is you who lives in a fantasy if you think moving your money to a different bank will somehow protect you if the FDIC defaults. As soon as people lose faith in the banking system you’ll see a run on all banks like never seen before and the health of the banks before that happens will not matter.