Quote:
Originally Posted by
Lego_Man
Deposit protection insurance with no capital requirement hike, is just a taxpayer subsidy to bank shareholders...does Grobocop understand that or is he too thick to see through the bank spin?
But it is paid for by the banks. There is a levy of some small basis called by the government. At least that's my understanding of how these Deposit Insurance schemes work.
Not that I agree with them myself, but what will be will be. I can kind of see the fact that most depositors wont have any real idea of how secure each bank is relative to another but that's something why financial literacy is a useful skill.