[impimp]

You like hyperbole and FDIC is socialism.

[Night Hides Not]

You like hyperbole and FDIC is socialism.

How is the FDIC socialism? Member banks pay a fee in return for the FDIC guaranteeing their depositors' funds (up to $250K). Banks are not required to become FDIC member banks.

From those fees paid by banks, the FDIC maintains a Deposit Insurance Fund and pays its operating expenses. Not one taxpayer dollar is expended by the FDIC. It is an independent agency.

How is that socialism?

[alex2011]

Sure FDIC is socialism! Like any insurance your Home Owners insurance its also socialism, if you have a firm,it will give you free money, that’s evil. Every bank client should do a financial audit of any bank he deposits his money to, I mean everybody is holding a CPA right? If you think a private company can do a service of FDIC, I say sure right after you can find private insurance company to cover you for risk from Acts of War or Nuclear Disaster. Good luck, private industry really suck at covering for massive catastrophic risk.

[SpaceBar]

Your grasp of the holodomor is pretty poor. Stalin was responsible for grain shortages in the Soviet Union by deliberately engineering mass starvation as punishment for defiance to his collective policies. It had absolutely nothing to do with whether or not there were commodities speculators.

[Pelham]

So do you trade your derivatives OTC or on an exchange?