Members of Congress like Sen Warren and Rep Maxine Waters are pushing a plan to have the US Treasury increase FDIC insurance limits.
If the govt is guaranteeing everything, then it controls everything. If there is more insurance from the govt on banks, then the govt is on the hook for bigger bailouts for failed banks. Bankers can take more risks knowing the govt will be there for a bailout.
Bankers get their bonuses, but if they mess up taxpayers get the losses.
They are pushing a plan that sounds good, but it is a trojan horse for more govt control of the economy.
