maybe. not sure.
if you can set it up so that the fdic/govenment/taxpayers ARE DEFINITELY protected from getting dragged into any bank failures
maybe
maybe
but those insurance dineros have to be REAL and on deposit where we can SEE them at ALL times
not just some re-insurance contract from a foreign bank or other piece of paper printed up with photoshop in some banker’s cubicle
Read Hank Paulson's confession "On the Brink" to see how absurd that statement is (no offense intended).
Actually, unless you work for the Justice Dept, don't read it. It'll just do terrible things to your blood pressure. To summarize, the Sec of the Treasury repeatedly says they knew what they were doing was not legal, but they just had to do it because "saving" the banks was more important than following the law..