I was in banking, but this is one of my questions as well.
My understanding is that there is flexibility in how the FDIC can make you whole. In a full blow disaster perhaps they might say your first $5-10k is available, but then for the rest they might spread out reimbursement over a long period of time, or bail in?
I know that the FDIC/Bank Regulators were not happy several years ago when BofA moved there derivatives business in with their retail (me/you) business. I've lost track of what happened with that fight, but I'm pretty sure someone told the Feds to lay off at some point.
One positive thing that did happen during the last crisis (2008-09) is that the FDIC (US Government) did put an unlimited guarantee on business checking accounts. Without that a lot of businesses big or relatively small would have had trouble running their operations if they tried to keep checking accounts around 250k. Fortunately it wasn't tested at the too big to fail level.
In the end though it's us, the US Taxpayers who are on the hook for the banks gambling debts, one way or another. A great example of privatize the profits, and socialize the losses and how the game is rigged against the average, and even not so average person. I'd love to see senior management's assets be on the line in a bank failure, but that's NOT GOING TO HAPPEN!
IF you are fortunate enough to have a fair amount of cash savings, my recommendation is to put it in a credit union. More than one if you have the time and wherewithal. They are under attack also. Commercial banks hate them. I remember the CEO of US Bank whining about how unfair it was to have to compete with them since they didn't have to make a profit.
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