Question
If the economy is doing well, customers are more likely to store their money in the bank whereas if the economy is in a downward
If the economy is doing well, customers are more likely to store their money in the bank whereas if the economy is in a downward spiral, withdrawals are commonplace." Let's take a clearer look on where banks base their money if the economy fails in general. Can you provide an instance where banks cannot take your money without your permission, at least not legally? How would you approach this outcome? It is evident and clear that banks attain the following information from the Federal Deposit Insurance Corporation (FDIC) insures deposits up to $250,000 per account holder, per bank. Can you provide a point if the bank fails then you will return your money to the insured limit? What are your viewpoints on this one?
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