http://blogtown.portlandmercury.com/BlogtownPDX/archives/2008/09/30/obama_weighs_in_on_bailout Comments On: Obama Weighs in on Bailout by Amy J. Ruiz en-us Copyright 2009 Portland Mercury. All rights reserved. This RSS file is offered to individuals, Portland Mercury readers, and non-commercial organizations only. Any commercial websites wishing to use this RSS file, please contact Portland Mercury. webmaster@portlandmercury.com (Portland Mercury Webmaster) Sat, 21 Nov 2009 00:00:01 -0800 Sat, 21 Nov 2009 17:15:00 -0800 Foundation http://blogs.law.harvard.edu/tech/rss Posted by Mr. X]]> Wed, 01 Oct 2008 09:25:46 -0700 Portland Mercury
If you cut out the kids and only pay out to the roughly 3/4 of citizens over the age of 18, it's still only $3,111.

My calculator doesn't have enough space to show me how much it'd cost to give us each a million bucks.
Posted by Amy J. Ruiz]]> Wed, 01 Oct 2008 07:33:18 -0700 Portland Mercury Posted by Mr. X]]> Tue, 30 Sep 2008 22:40:26 -0700 Portland Mercury
Representative Carolyn Maloney, a New York Democrat, said small businesses in her district would support higher limits on deposit insurance. "Many of them are opening up numerous accounts for FDIC insurance,'' Maloney said. "It is difficult to conduct business that way.''

If you find it difficult to conduct business using numerous bank accounts, maybe you're not cut out to conduct business. Plus, this would only make conducting such "difficult" business 2.5 times less difficult.

This doesn't solve anything except for letting stupid, rich people be 2.5 times as stupid while still insuring they keep their money.
Posted by mytoesareonfire]]> Tue, 30 Sep 2008 18:05:59 -0700 Portland Mercury
"The FDIC should quickly be granted the authority to increase the deposit insurance cap from $100,000 to $250,000 so that families do not have to worry about their money. We cannot allow a crisis in our financial system to become a crisis in confidence.

I call on everyone in Washington to come together in a bipartisan way to address this crisis. I know that many of the solutions to this problem may be unpopular, but the dire consequences of inaction will be far more damaging to the economic security of American families and the fault will be all ours.

-John McCain"
Posted by ROM]]> Tue, 30 Sep 2008 16:22:10 -0700 Portland Mercury
It will also help prevent runs on banks, when customers get scared for no reason about losing their money (as happened in a small way with WAMU last week), and so the alarmist prophecies become self-fulfilling. That was one of the biggest factors that turned recession into the Great Depression.

It's the first suggestion I've seen that actually makes a lot of sense.

Of course, another huge factor that caused the Great Depression was the dustbowl when crops failed. Now would be a good time to desperately hope the worse-case scenario for climate change is proved wrong...
Posted by Stu]]> Tue, 30 Sep 2008 13:32:04 -0700 Portland Mercury
I don't know about you, but I sure as heck don't have 100K in my bank account.

A lot of people have more than that in their retirement accounts, but they're not insured anyway.
Posted by Dave Lister]]> Tue, 30 Sep 2008 13:02:58 -0700 Portland Mercury