[quote=TheBreeze]I believe he’s talking about deposits above the FDIC limits (which I think are currently $250K?).[/quote]
Wrong. The $8 trillion represents ALL deposits in the domestic banking system. All DDA accounts now have unlimited coverage. And through CDARs, anyone (individuals or businesses) can get up to $50 million in time deposits fully covered by the FDIC. Uninsured deposits are a pretty small portion of the total at this point. (Prior to the crisis they were about 30% of the total.) Anyone that has uninsured deposits at this point isn’t paying attention.
Now, the real question is how you can have the temerity to post such an article without even understanding what the author is trying to convey. I just don’t get it. Bizarre.
