THIS scares me: from Jonathon Turley's website

[Benton D Struckcheon]

19. Read that again

471 banks. The Fed and the Treasury couldn't handle Lehman and Bear Stearns without blowing up the entire world economy. These guys do hundreds of banks at a time, and the worst you can come up with is that they settled claims that don't even come to 100 billion on ALL of these banks without disclosing the details?
This is small time stuff. Very small time stuff. The FDIC has been around since 1933. They almost single-handedly managed to stop the entire US financial system from going bye-bye at that time, cleaning up after the mess the Fed and the Treasury caused at that time. This time around they're preparing so that the next time they have to clean up after another of the Fed's messes they have the tools to do it.
The point of the FDIC - this is FDR logic - is that it's an insurance provider for customer deposits, and as such it will examine the banks it insures to make sure they can insure them without a problem. They've been doing it for eighty years without the fanfare the Fed attracts, but with all the competency they so conspicuously lack.
To the actual point: that document - the FDIC/BOE plan - doesn't say what you think it says or what that blogger thinks it says. It was put together precisely to prevent depositor funds from being poached.