The number of comments (including from high-profile people) that completely ignore the fact that deposit sweeps exist in the past few days has been astounding...
Is it really a desirable solution though? Seems like gaming the system, and if the end result will be that effectively all deposits are FDIC insured anyway, why not just get rid of the $250k limit?
It spreads the risk out among a bunch of different banks, thus drastically lowering the odds that the FDIC will have to pay out on the full amount deposited.
