The new Trump administration has reportedly begun looking for ways to drastically downsize, consolidate or even eliminate key banking regulators in Washington. This is not smart economics. The FDIC – the Federal Deposit Insurance Company – was founded in 1934 during the Great Depression, after thousands of banks began to fail. Those who didn’t lose their money right away panicked and withdrew their deposits – causing a so-called ‘bank run’ (famously depicted in Capra’s ‘It’s
