Former FDIC chair Sheila Bair: Eliminating the FDIC would be a mistake

Sheila Bair, former chair of the FDIC, joins CNBC's 'Power Lunch' to discuss Trump advisors' proposal to to shrink or eliminate bank regulators.

[andybroer]

If you want to grift the American public the first thing you do it get rid of the safety nets

[hammerandthewrench]

This alone, will single handedly ruin millions of lives.

[grsd]

Wait, so banks and credit unions will no longer be insured? ...Time to withdraw all my money and put it under my mattress.

[damham]

If it might benefit the super rich, Trump is for it.

[hosermandeusl]

Q: are we looking at a "bank run" in our future?

[RenzoTx]

At this point I’m lost as to what DOGE actual agenda is. FDIC was established to protect the consumer.

[teebone]

Trump would be an idiot to get rid of FDIC

[kidsnetsoft]

It would be a disaster to not secure people's money in the banks

[jamieg]

His supporters will get screwed but they won’t care.

[ripplecutter]

"Please, sir. May have someone to protect my hard-earned savings?"

DOGE: "LMAO NO"

[kimberleebrackley]

Crooks getting their grubbies into our money house? If it is a working necessity for the people, then it is a target. Divide, control, silence.

[theresastrack]

BIG BUSINESS DOES NOT WANT CONSUMER PROTECTIONS

[Navy-Vet]

I can see people stuffing their mattresses and burying their cash in their back yards. Trust banks? What a joke.

[Crux]

Banks not being FDIC insured is a *massive problem* — banking will be entirely unreliable

[nanceenurse]

And, his voters are applauding him and his ideas!

[mack-uvgn]

A massive mistake to eliminate the fdic.

[MaggieMiller]

FAFO - I never heard this one - eliminating the FDIC? This is a safety net that MUST stay in place to protect Americans from bad banking decisions. CRIKEY!

[deeremandoug]

those who forget the past r destine to repeat the past

[kfbzxgx]

It'll be the end of me using an American bank!! To all Americans Norway and Sweden both have the same insurance of 150k per account. I'm transferring my money out of America before Trump's in office!!

[djgreen]

Trying to build a entity that can b easily manipulated...