### Comment:
Well, what I don’t get is that Americans see banks as some sort of institution, when actually they are private businesses. I mean, if I don’t like how a business handles my stuff, I switch to another. So why hast there been any incentive to renew the system?

### REPLY:
Well American banks are both. They’re private for-profit business, but they all pretty much have federal insurance. FDIC protects your money up to 100K and it also means the banks have to follow federal rules. So our federal government guarantees every last deposit in the country.  
  
 This is also why robbing or defrauding a bank is a federal crime.

### END.