[MeneMeneTekelUpharsin]

This means that with all of your accounts at ONE given bank, you're only insured up to $250,000. Must be a reason for lowering the limit.

With inflation, $250,000 is going to be very little pretty soon. Folks with several million in accounts are only protected from bank failure up to $250,000. So, they divide their money into many accounts in many different banks trying to protect as much of it as possible. Should some big banks fail, a lot of folks are going to be unhappy.

[Mr. Jeeves]

Not much of a promise, anyway, since by law FDIC can take up to 99 years to pay you back.

[swamprebel]

The 250K that is insured, is adjustable down to $.10 on the Dollar.

[ozzymandus]

Trying to drive more people into the stock market. Same reason CDs pay almost zero interest.

[E. Pluribus Unum]

Looks like President Cloward-Piven’s “overwhelming of the system” is about to shift gears.

[Theoria]

If your concerned with the money, you can always look into CDARS. You pay a little, but the 'protection' is up to $50 Mil.

[exnavy]

Dodd, Frank gee, where have I heard those names before? /wink-wink

[Vermont Lt]

It hasn’t been that long since it was $100,000.

That insurance is expensive as hell..especially with banks on the brink over the past ten years or so.

And FDIC has usually been on all of your accounts. Credit unions and community banks had other coverage.

$250,00 is still quite a bit for the average American.

[BunnySlippers]

*

[Noob1999]

Good!!!