Editor's note 03-16-23

By Fletcher Farrar

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If you're one of those who have been losing sleep worrying about all those people who have more than $250,000 in their bank accounts, more than the insured-deposit limit, you may now rest assured. It turns out that the median net worth of U.S households is $140,500, and half of those have bank deposits of $9,100 or less. So a lot of us are safe. If you're still worried, remember that President Biden took care of all deposits in the first two banks that failed, protecting hedge funds and crypto investors too. Another idea, so far untried, would be for all those with more than $250,000 in the bank give cash to those with less than that amount, so that everybody would have $250,000 but no more. Then everybody's bank deposits would be insured. –Fletcher Farrar, editor