Biden (etc) will say that it's important to EXCEED the $250K limit for this bank, because of <<insert garbage reason here>>.
Oprah, Harry, and others will be made completely whole, and receive hundreds of millions of FDIC dollars...each.
They will get away with this because the normies do not pay attention until they are personally affected.
And once the 'widespread banking collapse' happens, there will be nothing left in the FDIC coffers.
It will already have been distributed to Oprah, Harry, and other billionaires.
Sound theory?
Nope wrong. FDIC doesn’t insure corporate accounts. Only personal accounts.
Under FDIC rules, all deposits owned by a corporation, partnership or unincorporated entity (including a for-profit or a not-for-profit organization) at the same bank are added together and insured up to $250,000, separately from the personal accounts of the owners or members.
https://www.fdic.gov/consumers/consumer/news/november2019.html#:~:text=Under%20FDIC%20rules%2C%20all%20deposits,of%20the%20owners%20or%20members.
The FDIC doesn’t have the money.
They'll get it from the printer
Nope. Not this time.