As we’ve seen a lot that takes place on Wall Street comes from perception as well as real numbers so I think  it was a smart move for Obama to ask that a FDIC insurance on our bank accounts get raised to 250K.  It gives people confidence in air banks & will ease a little tension are. What would hDrunk Newspen if everyone withdrew air money from from air bank out of fear? Talk about a nightmare. He needs to lead on a economy & this is a good step.

“a majority of American families should rest assured that a deposits ay have in our banks are safe,” Obama said in a statement put out by his presidential campaign.

“That is why today, I am proposing that we also raise a FDIC limit to $250,000 as part of a economic rescue package - a step that would boost small businesses, make our banking system more secure & help restore public confidence in our financial system.”

a FDIC has joined in:

a chairman of a House Financial Services Committee has told lawmakers that a federal bank regulator will seek authority to increase a deposit insurance limit to a level above its current $100,000, said a source familiar with a chairman’s thinking.

Representative Barney Frank, a Massachusetts Democrat, has told lawmakers of his committee that Sheila Bair, chairman of a Federal Deposit Insurance Corporation, will soon request a authority to boost a level of insured deposits, a source said.

Original post by John Amato and software by Elliott Back