#fdic

[thingstrumperssay]

And there will be another great depression under him when his tariffs and mass deportation raises the price of everything significantly.

[saywhat-politics]

The next DOGE target could be the FDIC, which was already experiencing a staffing shortage before Trump's hiring freeze.

Remember: the FDIC was created during the Depression to protect people's deposit accounts.

Gutting it could lead to another financial meltdown. - Robert Reich

[dostoyevsky-official]

Trump Advisers Eye Bank Regulator Consolidation After Targeting CFPB

In recent discussions, Trump advisers and allies have examined whether it is possible to collapse the Federal Deposit Insurance Corp. into the Treasury Department, according to people familiar with the matter. They have also discussed combining the FDIC’s regulatory role with the Office of the Comptroller of the Currency under Treasury. [...] Staff inside the FDIC and the OCC expect to hear from DOGE soon, according to people familiar with the matter. [...] The administration wants at least de-facto consolidation of the bank regulators, even if the agencies remain separate entities. It’s unclear whether the administration could do that on its own. Congressional support would be needed to officially combine agencies. In a recent proposal, one individual would lead both the OCC and the FDIC, people familiar with the matter said. That would allow the OCC to attempt to take over all of the FDIC’s work supervising banks and potentially its role winding down failed banks, the people said. [...] In any plan that advances, significant cuts are likely at the bank regulators. Trump has moved to freeze hiring in the federal government and force workers back to the office full-time. DOGE has been the main driver of cuts. Bank executives have been telling Trump their industry suffers under too much regulation. For years, the CEOs have argued other industries are encroaching on their business without the same regulatory hurdles.

we are all going to starve.

[moonbean117]

It’s happening

[onlytiktoks]

[fuck-u-maga]

Dumb ass people voted for this

[thashining]

"He’s also talking about gutting the NCUA along with the FDIC, and having both absorbed into the treasury. They want all deposit insurance essentially done away with."

"DOGE backs bitcoin so they are looking to destabilize banks and force consumers into using bitcoin which is where they get $$ "from"

[isawthismeme]

[political-us]

The Federal Deposit Insurance Corporation (FDIC) News:

Advisors within the Trump administration have reportedly explored the possibility of shrinking or eliminating certain financial regulatory agencies, including the FDIC. This has led to discussions about the future role and structure of these institutions.

The FDIC insures deposit accounts such as checking accounts, savings accounts, money market deposit accounts, and certificates of deposit (CDs) at FDIC-insured banks. If a bank fails, the FDIC steps in to reimburse depositors, up to the insurance limit.

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category (e.g., individual, joint accounts).

For example, if you have $250,000 in a checking account and $250,000 in a savings account at the same bank, both accounts would be fully insured. However, if you have more than $250,000 in one account, the amount above $250,000 is not insured.

This is the only thing protecting your money if a bank fails.

[clonebrainrot]

Trump and Musk are totally gonna get rid of FDIC insurance which is the insurance the government puts for banks so you don’t lose your money if the bank closes or for whatever reason. It covers around 200,000 dollars there have been rumblings about him and Elon getting rid of it.

If they do expect run on banks to become a regular thing again. And possible economic collapse with it. Like this is one of the last things in place we still have to prevent a second Great Depression besides the security and exchange commission. Which honestly they’ll probably also get rid of

[justinspoliticalcorner]

Alex Lang at The Independent:

Donald Trump’s transition team has reportedly looked at ways to shrink or eliminate banking oversight - a move that could have dramatic impacts on everyday Americans and protecting their money. In interviews with candidates to oversee the banking sector, Trump advisers and DOGE - the advisory Department of Government Efficiency - officials have asked if the president-elect can abolish the Federal Deposit Insurance Corp., according to the Wall Street Journal. Trump’s team has also asked if the FDIC could be absorbed into the Treasury Department. Any move to eliminate the FDIC would require Congressional approval. But, if it were to happen, it would be a massive shakeup in the industry. The FDIC was created during the Great Depression. It is designed to help bulk up faith in the nation’s banking system. Most people know the agency as it insures deposits in banks up to $250,000.

So if there was a run on a bank or one would collapse, people with up to $250,000 wouldn’t lose their money because it’s insured by the federal government. If the FDIC went away, everyday people could lose that insurance or guarantees that their money will still be available in the event of a bank run or collapse. The WSJ report notes that while banks hope Trump will ease regulations, the FDIC insurance is considered “near sacred.” A move to eliminate that deposit insurance could cause panic among customers - and cause people to demand their money so it’s no longer at risk. Last year, several banks failed and it caused customers to shift their money to big banks and away from smaller groups. Sources told the WSJ that Trump’s team, which includes DOGE advisers Elon Musk and Vivek Ramaswamy, have also asked nominees about combining or restructuring bank regulators, including the FDIC and Federal Reserve.

The crooked Trump Misadministration is floating a dangerous 2nd Great Depression-causing idea by potentially closing down FDIC. Such a move would put people's savings and checking accounts at risk.

[reading-writing-revolution]

Lots of bullshit from Trump that's perhaps worth hearing about. Better second-hand instead of listening to him.

"Yesterday, Trump gave his first press conference since the election. It was exactly what Trump’s public performances always are: attention-grabbing threats alongside lies and very little apparent understanding of actual issues. His mix of outrageous and threatening is central to his politics, though: it keeps him central to the media, even though, as Josh Marshall pointed out in Talking Points Memo on December 13, he often claims a right to do something he knows very little about and has no power to accomplish. The uncertainty he creates is key to his power, Marshall notes. It keeps everyone off balance and focused on him in anticipation of trouble to come."

[sweetfirebird]

Okay, those of you who still argue/speak with conservatives or centrist types who maybe are not MAGA but definitely do not fully know what is going on, you need to talk about their money with them.

Mention specifically

a) social security --especially for the older people who rely on it

b) medicare --especially for the older people who rely on it

and c) banks and the FDIC --for fucking everyone

ALL OF THESE are being raided and decimated by Trump and Musk and yet a lot of Americans, sadly, do not realize this. Or might not even know what things like the FDIC are.

The FDIC is Federal insurance that all large banks have (but not smaller banks sometimes, or credit unions) to guarantee your money is protected. This goes back to, like, the Depression, when banks would just close and people would lose all their money and have no way to get it back. Your money is guaranteed (up to $250k as far as I know) to be covered if something happens to it.

If DOGE continues to strip the FDIC, that is now in question. Even conservatives will push back when it comes to *their money*

And Fox and CNN are not telling anyone that oh the Veterans Administration is being cut, making service harder to get for veterans. Or Social Security employees are being cut, which means you will not access to the money *you paid into over your entire life*

Also sadly, a lot of people do not equate "smaller staff" with "longer wait times and denial of service" even though they really fucking should.

[backtonormallife]

Project 2025

Agenda 47

Transition 180

Here is a link to the document.

Read it for yourself

[onlytiktoks]

Also;