Comment by matwood

> Sure, but is that the case now?

Pretty much and has been for awhile.

https://nyulawreview.org/wp-content/uploads/2025/05/100-NYU-...

In early 2023, within the span of two months, the United States experienced three out of the four largest commercial bank failures in U.S. history, as Signature Bank, Silicon Valley Bank, and First Republic Bank all toppled.1 Yet, despite these banks having roughly $300 billion in uninsured deposits at the time of their failures2 and despite the failures costing the Deposit Insurance Fund (DIF) of the Federal Deposit Insurance Corporation (FDIC) an estimated $38 billion, uninsured depositors took no losses in any of the failures.3 While these results were striking, they were far from unusual. Since 2008, uninsured depositors have experienced losses in only 6% of total U.S. bank failures.

...

Formally, the United States caps deposit insurance at $250,000 per account,6 but, in reality, the post-2008 financial system comes close to providing de facto total deposit insurance covering all amounts in all accounts.