Wow, they’ve really duped you. The FDIC has less than a cent on the dollar cash backing assets… the rest are Treasury securities which are simply the taxpayer’s obligation.

The S&L parallel of FDIC (SLIC) simply went bankrupt in the S&L bubble and had to be combined with FDIC.

And yes, taxpayers are still paying for all that.

Are there any government or quasi-government insurance schemes which aren’t simply moral hazards ultimately backstopped by (future) taxpayers? The answer is “no”, as far as anything I’ve ever seen.

The tax paying minions will barely feel a ripple bailin out this one.

The FDIC receives no tax dollars. Insured institutions fund the FDIC.