.*.

Did JPMorgan Almost Fail?

Dorque

Stop Yelling About FDIC Limits - In Fact, Just Stop Yelling

This author's point sound like it is being made by a prissy dorque, though I am sure the author is sensible in all other respects. The point is not there are administrative alternatives. The point is to stop the panic. Panic is often partly irrational. Th solution is not to send depositors through administrative hoops to try to protect their money--set up 10 bank accounts...? Come on! Yes we know we can do that. In fact I have done it. It is a royal pain in the *ss, not to mention putting my name, social security number and address on another 50 computerized, never-to-be-erased, hackable junk mailing lists. The 100K cap has been increased....never?...... is not even indexed to inflation. Small businesses that want to make payroll out of a simple account cannot do it. Promontory might be a solution but I don't know much about it, and anyway, it is a response to a pig headed delay by Congress to address the real problem, which is a paltry sized limit. It should immediately be made at least $10 million, and indexed to inflation.