TokenBoomer@lemmy.worldM to Progressive Politics@lemmy.world · 22 hours agoSmiling Hackerlemmy.worldimagemessage-square59fedilinkarrow-up1509arrow-down135file-text
arrow-up1474arrow-down1imageSmiling Hackerlemmy.worldTokenBoomer@lemmy.worldM to Progressive Politics@lemmy.world · 22 hours agomessage-square59fedilinkfile-text
minus-squareguillem@aussie.zonelinkfedilinkarrow-up3·18 hours agoAccording to the Wikipedia he withdrew money from private individuals’ credit cards.
minus-squareShezzagrad@lemmy.mllinkfedilinkEnglisharrow-up1·3 hours agoEver heard of protections for citizens. That money is back in all those affected accounts as it legally is required to be
minus-squareAnas@lemmy.worldlinkfedilinkarrow-up5arrow-down13·21 hours agoBanks usually hold other people’s money.
minus-squarerockSlayer@lemmy.worldlinkfedilinkarrow-up30arrow-down3·20 hours agoBanks are insured, along with all accounts under $250k. I don’t know about you, but I’ve never had to worry about going over the FDIC limit.
minus-squarePyr_Pressurelinkfedilinkarrow-up1·15 hours agoI mean, I’m not taking sides or anything but isn’t the FDIC a government agency and any insurance money used to cover thefts ultimately come from taxpayers?
minus-squarerockSlayer@lemmy.worldlinkfedilinkarrow-up7arrow-down1·11 hours agoNo, because the US federal government has monetary sovereignty using a Fiat currency, meaning the US can pay for it without extracting it from taxes.
Theft against banks.
According to the Wikipedia he withdrew money from private individuals’ credit cards.
Ever heard of protections for citizens. That money is back in all those affected accounts as it legally is required to be
Are they the same in every country?
That’s the bank’s money.
Banks usually hold other people’s money.
Banks are insured, along with all accounts under $250k. I don’t know about you, but I’ve never had to worry about going over the FDIC limit.
I mean, I’m not taking sides or anything but isn’t the FDIC a government agency and any insurance money used to cover thefts ultimately come from taxpayers?
No, because the US federal government has monetary sovereignty using a Fiat currency, meaning the US can pay for it without extracting it from taxes.