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qid 7586 · economics
Question: How did the government stand behind the banks through the formation of the Federal Deposit Insurance Corporation?
- By increasing taxes on banks
- By guaranteeing loans made by banks to businesses and individuals
- By capping the interest rates banks can charge on loans
- By providing financial grants to banks
- By taking over all private banks
- By insuring only the deposits of commercial accounts
- By protecting all bank deposits with government insurance
- By allowing banks to borrow unlimited funds from the government at zero interest
- By offering a one-time bailout fund for struggling banks
- By investing government funds directly into bank stocks
Our answer: G. By protecting all bank deposits with government insurance Source quote machine-checked (exact quote)
How it was answered
Multi-step solver (maze), replayed by code
Current source
FDIC.gov, "About"
“Since FDIC insurance began in 1934, no depositor has lost a single penny of insured funds due to bank failure.”
Source quote machine-checked (exact quote)
Earlier version (superseded)
https://www.fdic.gov/about/history/
Source weak (http_get_200_text_and_question_terms)
Earlier version (superseded)
No public source has been found for this card yet (3 places checked internally).
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