It makes a lot of sense, not the least of which is when folks think their bank is in trouble and they decide to start pulling their money because they don’t think the FDIC will cover them, it creates a “run on the bank” situation that makes a collapse for that particular institution almost inevitable.
Obama and McCain have proposed this addition of this measure today to create more support for the economic rescue package, and both called Bush about it…
“Both calls [from McCain and Obama] were very constructive, and the president appreciated hearing from them,” White House spokesman Tony Fratto said. “The senators offered ideas and reaffirmed what they have said publicly — that this is a critical issue that needs to be addressed.
“We’re not going to comment on specific ideas, but we appreciate hearing them and will continue to work with congressional leaders on ideas that will help the economy,” Fratto said.
So then…yet another bi-partisan idea we could all seemingly get behind.
Still, there’s no word as to when a new vote will happen, but yesterday I heard that the House had adjourned until Thursday. However, the Senate could vote on the bill first and put pressure on the House to pass it.
More as it develops…