The FDIC steps in when a bank fails and takes over. The system is designed so that not all banks would fail at one time.

Hypothetically, if it did happen, it would be great depression 2.0. But, things would be hell for 3 days till the feds could get the banks taken over. No funds can move during this time, so you can imagine how everything would come to a standstill. You could also expect riots and looting.

The FDIC steps in when a bank fails and takes over. The system is designed so that not all banks would fail at one time.

Hypothetically, if if did happen, it would be great depression 2.0. But, things would be hell for 3 days till the feds could get the banks taken over. No funds can move during this time, so you can imagine how everything would come to a standstill. You could also expect riots and looting.