Republican Rep. Blaine Luetkemeyer of Missouri believes that the U.S. authorities ought to briefly supply blanket insurance coverage for all financial institution deposits in a bid to stop huge flows of funds from smaller banks to bigger establishments amid widespread panic surrounding the monetary system.
“When you don’t do that, there’s going to be a run in your smaller banks,” Luetkemeyer stated, in accordance with Politico, “Everybody’s going to take their cash out and run to the JPMorgan’s and these…
