Every once in a while, we hear about bank depositors’ money being at peril because something went wrong. Inevitably, the accusatory finger points towards the regulator and the government.
To be sure, the “system” has a responsibility, but every stakeholder has one too, and that includes the depositor as well.
In this case, ‘responsibility” of the depositor means understanding what s/he is getting into, what is the risk, and if something goes wrong, who is supposed to carry the loss.
This is important, because we tend to get swayed when we see the board of a “Bank” written in big fonts hanging outside a branch office.