Senate voting Wednesday on Bailout

[sgrooms]

Interesting...will it pass??



http://www.reuters.com/article/newsO...48T8UP20081001

[Sonnabend]

My guess is no.

[sgrooms]

Actually, I think it will. They have included tax breaks for business and increased FDIC insurance levels to 250k.

I cannot for the life of me figure out why they are so intent on cramming this down our throats. It is looking more and more like they have something to bury and hide by giving the money away. It is absolutely despicable.

Unfortunately, I am pretty sure I already knew that. I wonder if you can protest taxes long enough to die and not have to pay for any of it.

[linda22003]

Unfortunately, I am pretty sure I already knew that. I wonder if you can protest taxes long enough to die and not have to pay for any of it.

Sure. Then they'll take it from your heirs, with penalties.

[Lager]

Someone help me out here. What's the deal with the higher FDIC insurance? I've never heard that as an issue before. Were people losing money with the cap at $100,000? Does anyone really keep that much money in a bank account anyway, with interest rates so low? Or is this idea a cheap little piece of ribbon to tie on this thing that actually adds no value?

[sgrooms]

Someone help me out here. What's the deal with the higher FDIC insurance? I've never heard that as an issue before. Were people losing money with the cap at $100,000? Does anyone really keep that much money in a bank account anyway, with interest rates so low? Or is this idea a cheap little piece of ribbon to tie on this thing that actually adds no value?

The ambulance district I work for does keep more than that in our account, but we have purchased extra insurance (our expense) to cover the money.

Beats the shit out of me.

[sgrooms]

Sure. Then they'll take it from your heirs, with penalties.

The callous side of me says "who cares, I'm dead" but I probably shouldn't be that way.

[linda22003]

Someone help me out here. What's the deal with the higher FDIC insurance? I've never heard that as an issue before. Were people losing money with the cap at $100,000? Does anyone really keep that much money in a bank account anyway, with interest rates so low? Or is this idea a cheap little piece of ribbon to tie on this thing that actually adds no value?

Lager, this would be more of an issue for small business accounts than for individuals.

[Phillygirl]

Someone help me out here. What's the deal with the higher FDIC insurance? I've never heard that as an issue before. Were people losing money with the cap at $100,000? Does anyone really keep that much money in a bank account anyway, with interest rates so low? Or is this idea a cheap little piece of ribbon to tie on this thing that actually adds no value?

As someone else said, it is an issue for small businesses, and some people like to keep their assets liquid. They are trying to prevent a run on the banks, because most people didn't really think too much about having over the limit in one particular bank until they started to collapse. It's more of a confidence issue than anything else for the majority. But the lack of confidence definitely affects the market and the banks.

[Doc Savage]

Called the offices of both my Senators. Asked them to vote NO!!!! If not the next bailout they will get is out of thier Georgetown townhomes and back to the prarie.