The Push to Raise the Limits of FDIC
Posted on October 1, 2008
Filed Under Business, Commentary |
The push is on by the Bush Administration to raise the FDIC insurance on deposits to $250,000. For more information on what the FDIC currently covers see our recent articles on the FDIC.The FDIC insures close to $4.5 trillion in deposits and has about $45 billion in the actual fund. When the new bill passes it will raise this substantially. Notice that I didn’t say if but when.
Do not be fooled by all of the political grandstanding. This bailout is inevitable.
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