More and more Americans are gaming the deposit-insurance system
The firms quietly moving billions around the banking industry each day
Imagine you are the dealer at a vast card table. There are 3,000 players, each of whom is holding a different number of cards. Some have thousands; others a handful. Each will hold onto some cards and return the rest to you. Your job is to reshuffle the deck and deal it again such that each player has the same number of cards they held before, but none of the same ones they handed over. At any point a player might recall a specific card it once held.
This article appeared in the Finance & economics section of the print edition under the headline “High-stake cards ”
Finance & economics April 15th 2023
- Welcome to a new era of petrodollar power
- After decades of stagnation, wages in Japan are finally rising
- Where did woke ideas start to spread?
- Life is getting tough for borrowers. Where will the pain be felt?
- More and more Americans are gaming the deposit-insurance system
- What luxury stocks say about the new cold war
- How the state could take control of the banking system
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