Raising FDIC from 100,000 to 250,000 is.......

[Fishhead]

really insignificant in the grand scheme of things.

Hell, the banks have to pay for this now in higher premiums, so basically its a wash in my opinion considering the small amount or citizens that this concerns.

Why this wasn't raised earlier is beyond me.........I believe its been at 100,000 since 1980............LMFAO.

[MonkeyF0cker]

Its just feel-good legislation to make it seem like the bailout was actually done for our benefit...

[BestPlay2day]

Doesn't do anything for most people. Who keeps over $100,000 in their savings/checking accounts anyways?

[clonecat]

Doesn't do anything for most people. Who keeps over $100,000 in their savings/checking accounts anyways?

But it does have a huge effect for small businesses that employ the working class

[MonkeyF0cker]

LOL. What huge effect would that be exactly, clonecat?

[Seattle Slew]

I've always wondered about athletes and actors/actresses that make millions. Where do they keep it? Do they split it up among top banks or leave it in one big bank?

[BestPlay2day]

But it does have a huge effect for small businesses that employ the working class

You're correct, they wouldn't have to have multiple accounts at different banks if raised to $250,000.

[treece]

Doesn't do anything for most people. Who keeps over $100,000 in their savings/checking accounts anyways?

Better yet who even has $100,000 period. Most people are either broke or in debt up to their eyeballs.

[durito]

Better yet who even has $100,000 period. Most people are either broke or in debt up to their eyeballs.

Plenty of people.

I hope would most people over a certain age do, though I know many probably don't. People in the US are gonna have to work till they are 95 in the future.

[BestPlay2day]

Plenty of people.

I hope would most people over a certain age do, though I know many probably don't. People in the US are gonna have to work till they are 95 in the future.

Probably a lot of small businesses and the rich have more than $100k. Older people would have more than $100,000, but most would be in 401K, mutual funds, and IRAs. Doubt a lot of us have more than $100k sitting in our savings/checking acct.

[cinpls081]

5% of the country that make up 95% of the wealth have over 100K in various banks. it just stops people pulling money from the banks anyone that did was sure to make sure not more then 100K...

[durito]

According to the Economist 38% of US bank deposits are currently not covered by the $100,000 limit. That would decrease to 27% at $250,000.

[fiveteamer]

How many people in the U.S. lives off of cash?

[HedgeHog]

How many people in the U.S. lives off of cash?

senior citizens live off interest and dividends.