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Obama pitches plan to amend bailout bill By Klaus Marre Posted: 09/30/08 10:26 AM [ET] Democratic presidential nominee Sen. Barack Obama (Ill.) on Tuesday proposed to increase the bank deposit insurance limit
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“Continued inaction in the face of the gathering storm in our financial markets would be catastrophic for our economy and our families
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The Illinois senator said the bailout measure rejected in the House on Monday was a “marked improvement” over Treasury Secretary Henry Paulson’s original proposal.
“Given the progress we have made
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He proposed to expand the federal deposit insurance as a way to help small businesses, saying that the current limit of $100
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Obama believes the limit should be raised to $250
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“I will be talking to leaders and members of Congress later today to offer this idea and urge them to act without delay to pass a rescue plan
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