The spending bill just passed by congress makes the American
taxpayer responsible for any derivatives loses that banks may suffer.
These derivative holders now have first priority when any funds are
paid out and depositors are relegated to last place. FDIC insurance will
have to pay out these funds but it has no where near enough money to
pay the more than 300 trillion in losses that will be suffered in a
banking crisis.
That means any depositor has little hope of getting
anything back. In order for depositors to get anything back massive
money printing would have to take place making any payout amount to only
pennies on the dollar.