FDIC urges temporary hike in insured deposit limit

FDIC urges temporary hike in insured deposit limit

biz.yahoo.com

Federal Deposit Insurance Corp. Chairwoman Sheila Bair on Tuesday asked for unspecified authority to raise insurance limits on the very day that both presidential candidates recommended the move as a way to help prospects for the failed $700 billion financial bailout bill.

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An attempt to boost flagging confidence in banking. Is the FDIC just trying to prevent a run on the banks or is it really and signal that things aren't as bad as they seem? Probably an effort to gain support for the bailout.

I've been wondering about my savings account(s). It wouldn't take much of an increase to cover my butt, but I'm not overly worried about my bank either.

biz.yahoo.com
(visit the link for the full news article)

[edit on 30-9-2008 by Phage]