Warren Buffett says we're not through with bank failures

Excerp from 

https://www.cnbc.com/2023/04/12/warren-buffett-says-were-not-through-with-bank-failures.html

But the 92-year-old investor said there was unnecessary fear and panic about depositors losing their money, when the system is set up to protect the entire nation's deposits.

"The costs of the [Federal Deposit Insurance Corp.] are borne by the banks. Banks have never cost the federal government a dime. The public doesn't understand that," said Buffett. "Nobody is going to lose money on a deposit in a U.S. bank. It's not going to happen ... you don't need to turn a dumb decision by managers into a panicking the whole citizenry of the United States about something they don't need to be panicked about."