Why Did Obama Insist On Increasing the FDIC Limit?
What's Up With That?
I haven’t seen any comments related to Obama’s desire that the FDIC limit be raised from the current $100,000 to $250,000 via the “recovery” bill.
This seems a tad odd and out of line with his professed love for the middle class and poor down trodden folk in general.
After all how much of the “struggling middle class” have accounts with $250,000 in them?
Given the fact that it is relatively simple to spread several hundred thousand dollars among various institutions I find Obama’s special concern in this area curious. Peculiar even.
Not to mention that FDIC has only a fraction of the money on hand that would likely be needed if things REALLY went off the tracks.