Do you think the $250,000 limit was an accident? Someone tripped on a keyboard and that’s how the provision capping the insured amount came to be in the law?
Since it was the result of single moment in time 100 years ago and never adjusted, yes it was basically an accident of history.
You really think the FDIC limit was $250k in 1933? I mean go ahead and google but you should have been able to intuit this one.
“Only six months after the creation of the FDIC, government leaders realized the initial $2,500 limit was not enough to effectively support the banking system. So, on July 1, 1934, the FDIC limit was doubled to $5,000.”