Seidman on Deposit Insurance

My friends, there is good news and bad news.

The good news is that the full faith and credit
of the FDIC and the U.S. government stands
behind your money in the bank.

But the bad news is that you,
my fellow taxpayers,
stand behind the U.S. government.

L. William Seidman – Full Faith and Credit. The Great S&L Debacle and Other Washington Sagas. Beard Books, Washington D.C. 2000, p. XIII.

Advertisements