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- FDIC typically insures deposits up to $100,000
- FDIC wants limit raised
- Barack Obama and John McCain want limit temporarily raised to $250,000
- FDIC founded as part of Franklin D. Roosevelt's New Deal package in 1933
- FDIC made "bank runs" much less common because deposits were insured
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The Federal Deposit Insurance Corporation (FDIC) recommended on September 30, 2008, that Congress temporarily raise the amount of bank deposits insured by the government from $100,000. The same day that the FDIC made the request, candidates Barack Obama and John McCain urged the FDIC to increase the insured deposit limit to $250,000.
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FDIC Hike Questions
Bail/Consolidate? Fail/FDIC? Which is better? 1 AnswerI think that it depends on the given situation. I think that in the future the consolidation that has gone on in the past needs to stop. The mergers have prov... read more
What happens when a bank is seized by the FDIC? 1 AnswerFriday afternoon FDIC field team takes control of the bank. Because of the boom in business, they just opened up a field office in southern California (Irvine)... read more
Road Trip from Rockville MD to Cooperstown NY. Where should we stop along the way with 2 young kids? (hike?) 1 AnswerIf you can, I would stop off in Strasburg in Pennsylvania and ride the steam engine railroad. I took my kids when they were younger and they loved it. If you a... read more
Where does one hike in S. Maine? 2 AnswersSouthern Maine can be a great place to hike and enjoy the outdoors especially if you like the ocean and sea-side hikes. Along the coast of southern Maine from K... read more
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