New FDIC limit
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Thread: New FDIC limit

  1. #1
    Senior Member LEO Affairs Captain
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    New FDIC limit

    This isn't law enforcement related, but it's posted for LEO retirees and LEOs who are in the drop program:

    Quote Originally Posted by John Hielscher, Herald-Tribune
    The measure to increase FDIC insurance to $250,000 -- a new limit that would include credit unions -- is a key component of the $700 billion economic bailout plan the House will vote on today.

    Bankers have long argued for an increase in FDIC insurance coverage, last raised in 1980. They say it should at least be indexed to inflation so savers do not lose ground over the years.

    If the $100,000 coverage had been annually adjusted for inflation, it would now be at $261,389.

    Some of those banks may pass on that additional cost to their customers by lowering the interest they offer on CDs and other insured accounts.
    Click here for the full story.
    "Coming together is a beginning. Keeping together is progress. Working together is SUCCESS." -- Henry Ford

  2. #2
    Senior Member LEO Affairs Captain
    Join Date
    Mar 2006
    Location
    Venice
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    Angry

    Follow-up story:

    CNN POLL: Majority think country headed for depression

    Quote Originally Posted by CNN Deputy Political Director Paul Steinhauser
    A new national poll suggests that six in ten Americans think another depression is likely.

    In a CNN poll, almost 60% of those questioned say that its very likely that another depression could occur in the United States.

    The country went through a decade long depression following the stock market crash of 1929, in which roughly one out of four workers were unemployed, banks failed across the country, and millions of ordinary Americans were temporarily homeless or unable to feed their families.
    Click here for the full story.
    "Coming together is a beginning. Keeping together is progress. Working together is SUCCESS." -- Henry Ford

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