Leading economist, Nouriel Roubini believes our bank deposits may not be as secure as we assume. According to Roubini, there is a nationwide slow run on banks. This run could accelerate if people realize that the FDIC has only about $50 billion to ensure the $1 trillion in assets held in the nation’s financial institutions . This means that unless Congress votes to recapitalize the FDIC, the FDIC will not have enough money to ensure all of the open accounts.
While there is no reason to panic (if nothing else, we probably can count on Congress to vote to maintain faith in the retail banking system), it is a good idea to only keep the maximum amount the FDIC ensures – 100,000 in one account.
