This is a good suggestion by Obama.

Good suggestion by Obama.

Very bad idea. How is this going to help people with bad mortgages and need to borrow money? We should let the whole economy go down the same way it went up.

McCain will not support this since he has not proposed it.

It helps assure people that more of their money is safe, so they won't go taking it all out of the banks, which is a big part of what causes bank failures. It won't be the ultimate solution, but it sounds like a good addition to it.

McCain; this is a time to come together and not play the blame game... oh by the way Obama and the democrats in congress are to blame.

Obama; Stay calm this bill will pass and here is a suggestion, raise the FDIC insurance limit to 250,000

Ok test time; who is showing leadership? Hint it's not McBlame

Wake up! Good suggestion? How many Americans have 250K sitting in a bank! The problem is we have Billions of $$$ of bad home loans out there, pushed by Freddy/Franny and the Dems! Unless we get the housing fixed, the FDIC can guarantee 1 Million in each account but it is not going to help! Goodness people this problem has been created by years and years of bad lending practice not because peoples bank accounts are not insured past the 100K mark!

Since the beginning of this mess, Obama has put forward several proposals to fix the mess; unless I'm mistaken, I didn't see, read or heard any McInsane's proposal. All he's good at is looking for photo ops in Wahsington, going over there to distract those in charge of this crisis and din't even give any ideas to fix the mess. That's McShame's country first, hight ?!!

On the other side we have a candidate who's proposed very specific proposals to fix the mess. That's leadership and putting country first.

McShame's been panicking from the start of this crisis whereas Obama's showed leadership and confidence.

Copy cat of Jim Cramer's! Cramer suggested FDIC raises to $1M or DOW Jones will drop 2,500 points. Now Obama PLAGIARIZES Cramer's suggestion with $250,000.

This is simply a ploy to appeal to higher income voters. Obama likes to act the middle class champion. How many middle class folks have 250k in the bank? Nevermind that coverage is extended on a per-account basis.

Here's Obama's other angle - soothe fears by shoring up coverage. But if those most fearful are not in need of additional coverage...what use is this? 2 words - government bloat. No thanks - Nobama.

Another way for the Government to bail out the Wealthy.

Does Obama Even have a Clue????????

Tell Me obama to go back under the porch where it is safe.

Since he he not ready to deal with or get involved with the real problems that we are facing.

Great idea Obama! As for homeowners, some of the blame falls on them. Not to say I don't feel sorry for them. If you lost your job and can't meet it, that's different. But if you knew going in questions and concerns about how you were going to pay your mortgage and you can barely pay the rent before. That's your fault.
Now watch McCain try to still this idea!

chuck, many people have over $100k in the bank. It's called "life savings" for many people. My wife and I are in this situation. My parents and my in-laws are in this situation. We are just like everyone else we know.

Obama's idea is a very good one. It's a concrete step that could be taken to guard against a financial meltdown. Increasing the amount that the FDIC guarantees would help to make people feel that their money is secure and would make them less likely to panic.

The problem, by the way, has been caused by massive deregulation of the financial world. If you think that's mainly a Democratic issue, you haven't been paying attention.

On a day that our stock markets lost 1 Trillion dollars lets raise the FDIC are you kidding me.How about getting on a bus,plane,or bike and get you ass to work.Make the phone calls push for this deal to be done beit a republican or democrat plan.Me personally let it crash we will start over again and fix the mistakes of the past.

No BAILOUT FOR THE RICHES. The Dems are in bed with the riches. That's why they want to go along with Paulson (WHO IS CLEARLY IN BED WITH THE RICHES). Down with Paulson. DOWN WITH DEMS & THE RICHES. Let the economy fail then we all go down TOGETHER. I OPPOSE using my tax money to bailout the RICHES who MADE careless lending decisions.

It's also a good idea for small businesses, which was really what Obama emphasized in proposing this. Remember that small businesses employ people, pay taxes, help to grow the economy. It's in everybody's best interest that we should support them. This is an excellent idea.

The problem, by the way, has been caused by massive deregulation of the financial world. If you think that's mainly a Democratic issue, you haven't been paying attention.

Posted by: Alan J | Sep 30, 2008 7:50:08 AM
I think you have not been paying attention if you think this has been caused by the republicans

Rezko is spilling out the beans:

http://news.yahoo.com/s/ap/20080930/ap_on_re_us/fundraiser_indicted;_ylt=AtBTxw5cCgsTmOflgI9UNe9vzwcF

Seems like a good idea to me.

Some people who are posting here aren't taking the time to learn what FDIC insurance means. It has nothing to do with a bailout. It's a different approach altogether.

The bailout and those who support it ARE CORNERING Main Street citizens with their own agenda commonly known as "covering your rear ends"!!! NO WAY, NO HOW, NO BAILOUT!!!

It's also a good idea for small businesses, which was really what Obama emphasized in proposing this. Remember that small businesses employ people, pay taxes, help to grow the economy. It's in everybody's best interest that we should support them. This is an excellent idea.

Posted by: Cara V. | Sep 30, 2008 7:53:53 AM
----------------------------------------

Obama can care less about small buissness His tax proposals attack us and will damage our survivial

I wonder about those of you who think having over $100k means a small business or an individual is rich. I'm wondering if you are just young and at the beginning of your work life, or haven't started it yet? It's not all that much, particularly if it has been accumulated over years and years.

That is an idiot suggestion - Nobama should fire the person who loaded that statement into his teleprompter.

The suggestion is a good one,but it is not going to solve the problem at hand.
It is kinda like having your hand cut off and some propsing how to save your leg

wow reddog -- you really don't understand this issue. This isn't a tax proposal. Do you even understand how these things work?

Yes I do my comment is in regard to you saying about him helping small buissness which I happen to own one and what I am saying is he can care less about us small buissness owners .The proof of that is his tax proposals

Almost everyone above me on this comment thread is being ridiculous.

There is a quiet bank run going on right now for people who have over $100k in the bank. They're drawing down to that $100k level.

This promises to shut down even MORE banks, putting all of our money at risk.

Get an education before commenting on this website.

And by the way - I'm sure McCain will support this proposal as well...

And by the way - I'm sure McCain will support this proposal as well...

Posted by: Paul | Sep 30, 2008 8:12:16 AM
I am sure he will as well.I think we need to fix the bleeding first.

Well we can agree to disagree. I have had my own business since the late 80s. I've had 8 years too many of a party that believes in warmongering, trashing the environment, deregulating to the point of financial crisis, trashing our reputation in the world, and on and on and on. I'm looking at the big picture of who can bring real change and vitality to this country. You vote for your guy, I'll vote for mine.

Well done Obama. A good practical measure that could be taken immediately to stabilize the banks. I hope people will be able to go beyond partisanship and get behind this idea. It doesn't matter whose idea it was or who first proposed it. Any one who cares about this country should put country first and focus on what is going to help us now.

Where is Obama getting the money to raise the FDIC coverage? All Obama ideas are immature and without any thought of the future. The rate hike will cost you, the America taxpayer. There are no free rides.

After a thorough investigation, there is no doubt in backing and voting for
Ralph Nader.

http://www.votenader.org/about/

NO…. NO…. NO WAY Obama. McCain is on the back burner. Obama failed our investigation. McCain did somewhat better.

Waa...Waa...Waa...Nancy's being mean to me...so I'm going home....

"Where is Obama getting the money to raise the FDIC coverage? "

Posted by: Judge | Sep 30, 2008 8:23:42 AM

.............................................................................

Yet another person who doesn't understand how this works.

I'm looking at the big picture of who can bring real change and vitality to this country.
Posted by: Cara V. | Sep 30, 2008 8:15:46 AM

I think you mean talk about change he already has back pedaled on his platform .He cant raise taxes the way he wanted to he cant spend the way he wants to.I think if you do some digging on a little piece called the community reinvesment act you will see what caused this financial crisis that you speak of

Copy cat of Jim Cramer's! Cramer suggested FDIC raises to $1M or DOW Jones will drop 2,500 points. Now Obama PLAGIARIZES Cramer's suggestion with $250,000.

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass-Steagall Act of 1933. You do not get it. The funds come from taxpayers. The money does not grow on trees. The FDIC could go bust with financial crisis.

All Obama ideas are immature and without any thought of the future. The rate hike will cost you, the America taxpayer. There are no free rides.

After a thorough investigation, there is no doubt in backing and voting for
Ralph Nader.

http://www.votenader.org/about/

NO…. NO…. NO WAY Obama. McCain is on the back burner. Obama failed our investigation. McCain did somewhat better.

You don't honestly think that Jim Cramer was the first to suggest this, do you? The FDIC level is an ongoing debate and has been for years.

And even if Cramer were the only person on the planet who had ever expressed this idea, well good for Obama for promoting it. It's a good idea, bottom line. It's time for action, not silly cat fights about "plagiarism." How asinine.

Good suggestion? You've got to be kidding me! Obama continues to be an idiot. Not every American has $250,000 just laying around in a bank. We are just trying to stay afloat with our everyday expenses. Obama, do us ALL a favor and go back to Chicago. You are way too inexperienced to be playing in this election game!

Good suggestion? You've got to be kidding me! Obama continues to be an idiot. Not every American has $250,000 just laying around in a bank. We are just trying to stay afloat with our everyday expenses. Obama, do us ALL a favor and go back to Chicago. You are way too inexperienced to be playing in this election game!

The FDIC insurance limit should have been adjusted for inflation long ago. I'm surprised raising the cap wasn't part of the rescue legislation already.

Excellent suggestion from Obama.
Glad somebody is keeping his wits about him, unlike a certain crazed Repub presidential candidate who is certainly NOT HELPING PEOPLE STAY CALM...

Obama is the prime example of a socialist! How in hades is he going to pay for this increase? He continues to want to increase the Cap gains tax to 28%. Americans cannot afford Obama. He will send America into bankruptcy even more than she already is. C'mon, media....see this Obama idiot for who he really is...."empty suit, no substance!"

Excellent suggestion from Obama.
Glad somebody is keeping his wits about him, unlike a certain crazed Repub presidential candidate who is certainly NOT HELPING PEOPLE STAY CALM...

Posted by: SueP | Sep 30, 2008 8:45:55 AM

You make me laugh...just like a "typical" Obamabot...how is he going to pay for this? Oh, I know....he'll continue to raise our taxes, right? Just like a DemWit, you would be in favor of this. Again, no solutions from the idiot Obama...."empty suit, no substance!"

Actually, its a good suggestion since it will help stop people from running to the bank to withdraw all their money. Runs on the bank are a large risk at the moment, ask Wamu. This doesn't solve the mortgage problem, but it does remove part of what could accelerate the current downward spiral.

http://palincounter.blogspot.com/

Obama PLAGIARIZES Cramer. Biden PLAGIARIZED in the past and was caught many times.

Obama/Biden = PLAGIARIZING TEAM. NO ORIGINAL IDEAS. NO OBAMA. NO BIDEN.

Judge -

FDIC insurance is paid out only if funds are unavailable because a bank has already collapsed. Raising the FDIC level is a preventive measure. It would help to stabilize the banks by encouraging people to leave their money where it is. Obama is not proposing this as an all-inclusive solution. He's proposing it as one action that can have a stabilizing effect, which is what we need right now.

It's a good idea and I agree with whoever said that McCain will probably get behind it.

billthomson stated:

Actually, its a good suggestion since it will help stop people from running to the bank to withdraw all their money

********************

It's too late for this now, what the Obamanut planning to help America out right now? NOTHING! Just like with gas prices, what did the Obama idiot do...NOTHING! What is Obamabots campaign all about? NOTHING! Send this clown back to Chicago and his Rezko thugs....America does not want him!

The insurance plan is what the Republican Congress was suggesting I am glad Obama has some good advisors.

Many, many people and small businesses have over $100k in the bank. Sorry for those of you who aren't in that situation. But just because this doesn't apply to you doesn't mean it doesn't apply to millions of people. Hey, it's not all about you....

Go OBAMA/BIDEN.

Do you think the junior officer from Illinois can manage the life boat - the ship is gone. .........
http://thefiresidepost.com/2008/09/30/the-titanic-usa-is-sinking-passengers-are-in-life-boats/

Sorry Obamapelosi etc. but apparently America DOES want him. I know, it hurts, but check out the polls.

CNBC Poll found MORETHAN 50% of American are against the bailout. Enough said!

Who has $100,000 in the bank much less $250,000? This does not help paycheck-to-paycheck Americans. and this would require more tax increase.

No one can help this economy -- Not Barrack Obama, Not John McCain.

Say no to the bailout.

nobailout.org

For those who are for the bailout, get your heads out and take a lok at the anti-bailout rallies the last several days. NO BAILOUT. NO OBAMA. NO BAILOBAMA.

Alan wrote, many people have over $100k in the bank. It's called "life savings" for many people

Yeah they are called rich people. If anyone has that much cash they ought to be smart enough to put it in different banks where it would be fully insured. Obama has no clue about "Main Street" America. we are lucky to have anything left over at the end of the month.

Palin should expose obama for being a fraud. What has Obama ever done for the economy. tax increases, earmarks to ACORN, wasting $130,000,000 in failing the Chicago Annenberg Challenge.

You're wrong, geevill. Although you can spread money across multiple banks, it is more to your advantage to leverage in one bank to achieve the best rates. Many of the brokerages will also have 'bank deposit' programs where they will do this for you automatically (Wachovia for instance).

Plus, in this time - which banks do you choose?

It is a good idea on Obama's part, as long as the FDIC can back it with enough reserve.

ablanche08, your posts are getting increasingly moronic. "No bailout, no Obama"?????? Who proposed the bailout? BUSH. And in case you didn't notice, McCain and Obama both voted for it.

What do businesses do when their taxes are raised in this country?

They move their business to a country with less tax.

Let Obama become president, so that all of this supporters will have to move to a foreign country to keep their jobs.

Thanks, 1percenter --- Intelligent post. Badly needed around here.

I am sure what ever Obama purposes It will cost the tax payer's.

"You're wrong, geevill. Although you can spread money across multiple banks, it is more to your advantage to leverage in one bank to achieve the best rates. Many of the brokerages will also have 'bank deposit' programs where they will do this for you automatically (Wachovia for instance"

The Obamabots think it is a good idea? Why stop at $250,000? How about $1 million?

This is what the bailout is all about: the riches, including the Dems who voted for the bailout, put THE POISON (TOXIC DEBTS) in front of the ordinary citizens and says "Drink this poison or we will kill you." NO BAILOUT. NO OBAMA. NO BAILOBAMA.

You're wrong, geevill. Although you can spread money across multiple banks, it is more to your advantage to leverage in one bank to achieve the best rates. Many of the brokerages will also have 'bank deposit' programs where they will do this for you automatically (Wachovia for instance).

Plus, in this time - which banks do you choose?

It is a good idea on Obama's part, as long as the FDIC can back it with enough reserve"

I see what we have here. One of those rich latte liberals for Obama. Most American aren't worrying about getting a better rate for their millions in savings. Obama is notihng but a tool for the liberal elites like Streisand and Speilberg.

Obama's proposal makes sense for the middle class American people. Raising the FDIC guarantee is an excellent gesture!!!!!!!! Calm, collective, intellectual President is in the making....vote Obama!

Obama supporters are now saying people have buckets of cash in the bank. Well over $100,000. What happened to the depression???????

Main Street Americans are not runnig to the bank. We are just concerned about our meager 401ks and TAXES. Raising the FDIC insurance level only encourages more irresponsible behavior by lenders.

LYnn, What poll are you ready IDIOT! Obama is ahead in every National Poll by as little as 5% and much as 8%. It is over for McSame and after Thurs. Palin will tuck her pitbull under her arm slather on some lipstick and go back to Alaska to shoot animals from a helicopter. You are done! Obama's idea is a good one that will reinforce small business. You morons think big business employs everyone. Nationally small businesses employ more people than all the large corporations. SO to shore up the largest employers (small business) makes sense. Just look at Palins ridiculous answer on the bailou to Katie Couric. ANYONE WHO VOTES MCSAME MUST HAVE AN IQ LESS THAN 90.. PERIOD
OBAMA/BIDEN 08'

His figure is nearly spot on for inflation - it is not just sucked out of thin air. I went onto the net to find an inflation calculator.
This is a government one : Using 1980 as base year and $100 000

http://data.bls.gov/cgi-bin/cpicalc.pl

Try 1981 as start year as well becuase it is already september.

This is a majorly good piece of advice. Believe me - A percentage of people are afraid to sell buy houses because they are petrified that their money could dissapear in a bank collapse during the transfer.

It also helps to stop bank runs. A very important part of financial stability. It is an insurance - that puts money back into the hands of the small guy. It does not protect the rich. For the rich $250 000 is one months salary.

"Obama's proposal makes sense for the middle class American people"

How? Go to Obamarosa's website and get the talking points. Doesn't do crap from middle class Amserican people. We don't have money sitting in the bank. All it would do would encourage banks to provde more risky loans -which is howwe got here in the first place. ACORN's demanding home ownership as a right.

It's early in the morning and already the Republican idiots are blogging . They still offer classes to get your high school diploma for Conservatives. This move is to help small business owners or didn't you read that ?

Posted by: geevill:

"I see what we have here. One of those rich latte liberals for Obama. Most American aren't worrying about getting a better rate for their millions in savings. Obama is notihng but a tool for the liberal elites like Streisand and Speilberg."
................................

Oh, this is too funny................ if you think the Dems are the party of the super-rich, well... you clearly don't know any rich people. McCain has 7 houses at last count. He and his wife are fabulously wealthy. The Bush family is also off-the-charts wealthy. As Bush said to a group of wealthy donors, "some people call you the elite, I call you my base."

The wealthiest people in this country vote Republican overwhelmingly. The Hollywood stars are an exception to the rule.

And the bankers that milked the system and made their fortunes over all those years, they're the ones who want the bailout most, and they're REPUBLICAN.

If this is such a bad idea, why is McShame now saying Me Too! Me Too! ?

GEEVILL, YOU ARE A MORON. THE INCREASE HAS NOTHING TO DO WITH IRRESPONSIBILITY. THIS WILL PUT CONFIDENCE INTO SMALL BUSINESS OWNERS TO NOT PULL THEIR MONEY OUT OF A BANK. THAT IS IT. NO IT WILL NOT HELP THE IRRESPONSIBLE INDIVIDUAL WHO WENT OUT AND BOUGHT A 300K HOME ON A MCDONALDS INCOME. I DO NOT THINK ANYONE DESERVES TO BE BAILED OUT. LIVE WITH YOUR MISTAKES AND DEAL WITH IT. WE OWE NOTHING TO WALL STREET OR MAIN STREET. BUT, INSURING THE FUNDS WILL MOVE IN THE DIRECTION TO BOOST CONFIDENCE IN THE LARGEST EMPLOYERS

geevill, I'm sorry you don't have a lot of money, really I am. But middle class isn't defined as "as much money as Geevill has." It's a little broader than that.

And I'm sorry to rub it in, but many of us do have over 100k in the bank, because we've worked hard and saved for years.

Since I have been reading these blogs,it has become apparent that the school system in America has failed us.

GALLOP POLL- OBAMA 50% MCSAME 42%

RCP ELECTORAL MAP- OBAMA/BIDEN 249
MCSAME/PAIN 163

PARTY IS OVER REPUGNITANS...
THIS IS WITH 126 ELECTORALS UNDECIDED, WHICH MEANS OBAMA ONLY NEEDS 21 AND MCSAME NEEDS 107. GO LOOK FOR YOURSELF

SO LYNN, YOU ARE AN IDIOT, SITE YOUR SOURCE FOR MCSAME WINNING AND OBAMA LOOSING! MORON...

It's so nice to see all the McMad nutjobs so angry over this proposal. I love it! McMad pulls theatrics, Obama is the first to interject this idea (that is the first of Obama and McMad) and it's somehow viewed as a bad thing, when it's a good thing for the country. Not the be all-end all, but it does improve confidence in the market at zero tax payer expense.

This is not surprising. It's why Obama is going to beat McMad on 11/4.

Hello, My name is Barack Obama and I'm your next President!

SEE FINALLY MAJORITY OF AMERICANS ARE REALIZING THE STUPIDITY OF THE MCSAME CAMPAIGN AND INDEPENDENTS ARE MOVING IN LARGE NUMBERS OVER TO THE OBAMA SIDE. BY THE WAY SO ARE REPUBLICANS THAT HAVE A BRAIN..

I'm an Analyst with fairly large mortgage lender. I can tell you with certainty that we're in this mess due to deregulation (primarily). Without Graham-Leach-Bliley, we would NOT be in the mess we're in today.

Phil Graham is the architect of that legislation. Phil Graham is a McCain advisor.

Total market deregulation is a FAILED policy. McCain has been a proponent of TOTAL MARKET DEREGULATION his entire career, or at least until about 2 weeks ago.

He is not for the middle class. His economic philosophy is BAD for the middle class.

His run for Presidency is crashing as we speak. He's done.

QUITE A FEW RED STATES TURNING BLUE ALREADY.. I SMELL A THRASHING COME NOV 4! WAY TO LEAD THE NATION OBAMA

OBAMA- THE NEXT POTUS!

Those of you who are crying about the fact you don't have more that $100,000 in the bank and who are teething resentment towards those that do:

as if they have done wrong by being fiscally responsible

as if they don't deserve protection too

Please re-read the following quote from the article above:

"While that guarantee is more than adequate for most families, it is insufficient for many small businesses that maintain bank accounts to meet their payroll, buy their supplies, and invest in expanding and creating jobs. The current insurance limit of $100,000 was set 28 years ago and has not been adjusted for inflation."

He wants to protect small businesses.

It is clearly stated.

No conspiracy.

Some of you may work for small businesses. Even if you don't have more than $100,000 in the bank, you would still benefit from this idea.

and does Obama support the same thing for the Alternative Minimum Tax???? Nah,only for his rich liberal friends.

Raising the FDIC insurance is notihng but a taxpayer subsidy of rich people. The Main Street Americans without all the cash in the bank gets screwed.

Look, from both sides...Dem or GOP posters. Anybody who starts a statement, ends their point, or integrates a play of a candidates name in their statement loses credibility and relevance...Seriously, stuff like "Obamabot or McSame", i'm sick of seeing it. It pretty much tells which side you are firmly on, and makes your point irrelevant. Let's see some honest posts!

Now, as a passionate Obama supporter, I find it funny how the pundits said Obama was on the sideline at first...Now he presents a proposal (that may or may not be a good idea, thats TBD) and the McCain supporters are dissing it ASAP...This most likely is out of fear that Congress will jump on this now, Obama will get the credit, and McCain will be history...But my thing is, if you're going to attack a candidate, be consistent...Don't say he's on the sideline, then say he needs to get back under the porce (whoever said that)...

Oh yea, 2 more days until Gov Palin's fate is sealed with conservatives!!!

Obama/Biden 08

Obama=Pelosi=Loser,

My, my. Such helpful posts, what with all that name-calling and fearmongering.

I'm certain that the McCain camp would be proud to claim you as a supporter.

However, I would suggest, if you are truly concerned about America's future, that you shut off Fixx News for once, stop parroting Limbaugh, and do some genuine research from other media sources before you continue to spread lies about who has the plan to raise your taxes. Hint: Unless you are extremely wealthy, it isn't Obama.

Obama IS threatening to make certain you have health care, though. If that makes him a "scary socialist" to you, versus McCain who actually wants to TAX health care benefits...well, sorry.

The Tax Policy Center estimates that by 2010, 89 percent of married couples w