Company investment and banking accounts aren't protected by FDIC, so that alone could wipe out a lot of companies.
Credit would go from "hard" to "near-impossible". Investment banks finance all sorts of things you would never think about. For example the kitchen equipment in your local fast food chain (The pizza chain Dominos ended up buying the leasing arm of an investment bank which financed it's kitchens to ensure it's own stability).
Larger companies rely on their investment banks for all sorts of things, from FX to protecting against counter-party risk (i.e. providing insurance against your main customers or suppliers going bankrupt).
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Savings accounts are only a tiny part of the equation, the impact on businesses of a wide spread collapse of investment banks would be much larger.
Other countries which offered guarantees on savings accounts still bailed out banks due to the wider economic issues.
What is a scenario where business would be disrupted in this manner? After all, even with the bailouts, credit is as hard to obtain.
Company investment and banking accounts aren't protected by FDIC, so that alone could wipe out a lot of companies.
Credit would go from "hard" to "near-impossible". Investment banks finance all sorts of things you would never think about. For example the kitchen equipment in your local fast food chain (The pizza chain Dominos ended up buying the leasing arm of an investment bank which financed it's kitchens to ensure it's own stability).
Larger companies rely on their investment banks for all sorts of things, from FX to protecting against counter-party risk (i.e. providing insurance against your main customers or suppliers going bankrupt).