drmosh
09-30-2008, 04:25 PM
Forget the bailout... that doesn't solve anything, what they should do is this:
http://www.businessweek.com/bwdaily/dnflash/content/sep2008/db20080930_510702.htm?campaign_id=yhoo
That's why Congress should stop fighting over the Paulson plan, at least for the moment, and quickly—instantaneously—pass an expansion of deposit insurance. That expansion should guarantee deposits up to $1 million and allow banks to offer deposit insurance above that for a small fee. What's more, Congress should augment the deposit insurance fund, which was $45 billion at the end of the second quarter, with another $100 billion or so.
http://www.businessweek.com/bwdaily/dnflash/content/sep2008/db20080930_510702.htm?campaign_id=yhoo
That's why Congress should stop fighting over the Paulson plan, at least for the moment, and quickly—instantaneously—pass an expansion of deposit insurance. That expansion should guarantee deposits up to $1 million and allow banks to offer deposit insurance above that for a small fee. What's more, Congress should augment the deposit insurance fund, which was $45 billion at the end of the second quarter, with another $100 billion or so.