Back to episode — Episode 2688 CWSA 12/13/24
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t Trump to succeed because it would be easier to just put up the wall that you already own than it would be to procure it and then start building it. Do you believe that? Here's why I don't believe it. It's too on the nose. Too on the nose. Really? Do we really think that Biden would try to sell the wall that even Biden was trying to put up right before the changeover? Now I do believe that there…
← Previous segment →tors. Says the Wall Street Journal. So they're talking about doing things with the FDIC and the Department of Government. Oh yeah the FDIC. So the FDIC is what ensures customers' accounts and most of us feel that that's a necessary, very valuable thing. But the news is telling us that Trump's DOGE people might want to get rid of those departments. Is that real news or fake news? Let's see if you get this one right. Real news or fake news? The team wants to get rid of the department that does the FDIC and maybe some other stuff. So therefore banks will be relatively unregulated. Do you think that that's true? No it's not true. It's not even a little bit true. It's totally not true. Here's what's true. They are definitely looking at reducing the bureaucracy. They're definitely looking at are there places where two or three agencies should really be one. They're definitely looking at that. Here's what they're not doing as far as we know: looking at not having FDIC insurance on accounts. There's no reporting that says they're considering that because it would probably be dumb. But getting rid of the many departments to administer it an
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d simplifying it but still making it available might be exactly what you want to do. Like how many people do you need in that department? Probably it's bloated. So probably if you combined it with something else and kept one management you'd save some money. So no, it is not true that anybody on the Trump team is considering getting rid of federal deposit insurance. It is true because it's common…
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