Bank Failure: As American As Apple Pie?
CorrectionIn this interview, we incorrectly suggested that the FDIC (Federal Deposit Insurance Corporation) insures deposits in credit unions. Credit unions are covered by a separate federal agency -- the National Credit Union Administration.
In a recent op-ed for the Los Angeles Times, historian Jane Kamensky describes America's roller-coaster relationship with banking. In "Boom and Bust: It's The American Way" she writes that the "rapid oscillation between confidence and panic in the banking sector is nearly as old as the United States."
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