Statement I: More than 99 percent of all banks are members of the FDIC.
Statement II: The FDIC was responsible for the savings and loan debacle.

Question

Quizplus · Accepted Answer

Statement I is true as the FDIC (Federal Deposit Insurance Corporation) is a regulatory agency that insures deposits in banks and other financial institutions in case of bank failures, and therefore, most banks are members of the FDIC. However, Statement II is false as the savings and loan crisis occurred in the 1980s and the FDIC was not responsible for it. The crisis was primarily caused by a combination of factors such as risky lending practices, rising interest rates, and lack of government oversight, among others. The FDIC played a role in resolving the crisis by taking over and liquidating failed banks but it was not responsible for causing it.

Statement I: More Than 99 Percent of All Banks Are