Wednesday, October 1, 2008

FDIC Insurance Increase: Ground Cover for Paulson Bill

WSJ is reporting that according to Sen. Christopher Dodd, the Senate will vote on raising the FDIC limit to $250,000 from $100,000 for one year.

It will be inserted as part of the $700 billion Paulson "Bailout" Plan. The insert will provide cover for legislators who vote for the bill. "Hey, I voted for it because it raised FDIC coverage."

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