When the FDIC took extraordinary action and it paid off.
When the FDIC took extraordinary action and it paid off.  
Podcast: Federal Drive with Tom Temin
Published On: Wed Feb 12 2025
Description: If things get really bad, the Federal Deposit Insurance Corporation can cover deposits that are not insured. But that requires authority from the Treasury Secretary. The FDIC did just that in 2023. The Government Accountability Office found that the action paid off by reducing systemic risk. More now from the GAO's director of financial markets and community investment, Michael Clements. Learn more about your ad choices. Visit podcastchoices.com/adchoices