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What would happen if everyone with credit card debt collectively stopped paying them? (lemmy.world)

submitted 4 weeks ago by return2ozma@lemmy.world to c/asklemmy@lemmy.ml

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[–] Trigger2_2000@sh.itjust.works 3 points 4 weeks ago (1 children)

Pretty sure FDIC (Federal Deposit Insurance Corporation) is for deposits only, not debts. The politicians would never let their donors suffer.

[–] d00phy@lemmy.world 3 points 4 weeks ago

True, I was mainly responding to folks talking about banks going under and people “losing everything.” The FDIC was specifically set up to avoid that happening again.