Would you still purchase CDs?
Would you still keep any of your money in a bank at all?
Personally, I'd immediately close all of our bank accounts and move everything into our Fidelity cash management account. Without FDIC I wouldn't ever purchase another CD.
I suppose moving everything to a credit union might be an option. However, for purposes of this poll, we'll figure that NCUA would also be eliminated and credit unions are on similar footing as banks.
It would (not) be interesting to see what happens with existing outstanding FDIC-insured CDs if FDIC were eliminated.
Would you still keep any of your money in a bank at all?
Personally, I'd immediately close all of our bank accounts and move everything into our Fidelity cash management account. Without FDIC I wouldn't ever purchase another CD.
I suppose moving everything to a credit union might be an option. However, for purposes of this poll, we'll figure that NCUA would also be eliminated and credit unions are on similar footing as banks.
It would (not) be interesting to see what happens with existing outstanding FDIC-insured CDs if FDIC were eliminated.