It's time to highlight the importance of regulation; the effort to keep markets healthy and the financial system working. This was an effort largely abandoned by the previous Administration, due to a slavish devotion to an ideology based on unrestricted markets, and laissez faire capitalism.
We see where this has gotten us.
In the coming months, there is a possibility that your bank, whereever you may live, no matter how big or strong you think it may be, may fail. What do you do then?
If it's FDIC Insured...you do nothing. You don't have to. If you have under $250,000 in deposits, your money is safe.
Here's last night's 60 Minutes piece to show you why.
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