Next time you're talking to a rightwinger, ask them how they feel about the FDIC? I'll bet that most of them will say "I haven't really thought about that". That's the answer I got from 3 of my rightwing friends. Of course they haven't thought about it because FoxNews has never mentioned it BUT, without the FDIC, American capitalism would not exist. Since the foundation of capitalism is confidence, how many Americans would be confident enough to keep their money in a bank, instead of their mattress, if the deposit accounts of the banks weren't insured by the US gov't????? Without the FDIC how much money would be available , thru their deposits, for the banks to lend? How well would the economy expand if the banks had no money to lend ??? The bailout was done exactly because the cost of insuring the banks if they started to fail in a cascading fashion was higher than the bailout. Next time you talk to a rightwing friend, ask them how they feel about the FDIC and see how socialist they really are.
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