Obama got this right.

[Wagner]

The current FDIC limit was set 30 years ago. How will it help? Ah if you're a small business it helps a TON. SB's have far more then 100K tied in banks and personally for my SB this is a GREAT relief.

[statdoc]

Yes, a business account is limited to the $100k FDIC coverage. A joint account (husband/wife) would be $200k.

Re the increasing limits to $250, there was a Repub Congressman on the radio today, saying the House Repubs put that on the table during the negotiations with Pelosi, et al, but the Dems rejected that aspect for the bill. Interesting that Obama is claiming it is something he wanted.

Of course, as politicians, they may all be lying.

[Wagner]

Originally Posted by statdoc

Yes, a business account is limited to the $100k FDIC coverage. A joint account (husband/wife) would be $200k.

Re the increasing limits to $250, there was a Repub Congressman on the radio today, saying the House Repubs put that on the table during the negotiations with Pelosi, et al, but the Dems rejected that aspect for the bill. Interesting that Obama is claiming it is something he wanted.

Of course, as politicians, they may all be lying.

Remember, O'man was still campaigning and "phonin' in"

[E61Silver]

It sure is time to raise the limit then.

We also need the bailout plan.