The 92-Year Old FDIC Is Still in Charge and Independent

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The 92-year old Federal Deposit Insurance Corp. (FDIC) is responsible for insuring consumer deposits against bank failures — and for preventing future bank crises.

Its employees closely monitor most of the United States' smaller banks — warning lenders if, for example, their debt levels are edging too high or if they're taking on too much risky business.

The end goal of these examinations is to catch any problems before they snowball into a bank failure — or a wider banking crisis. 

In the global markets, there is concern with Trump and Musk slashing agencies without much process, and firing people without first studying what their roles and responsibilities entail, could create long-term chaos for the U.S. economy.