Deposit insurance is a form of theft

Bailouts are robbery... we can accept and even expect the government to sometimes subsidise businesses and people. Otherwise there is little point in having a government. But the bailouts for the banks are for the richest in society not the poorest and for this reason they have no justification. Bailouts can only be valid if the recipients are poor and needy... which is not the case with the bank bailouts and deposit insurance. Since this is true then they can more accurately be described as a form of robbery committed by (a combination of) the government and the banks.