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Boehner Hopeful FDIC Idea Will Help Negotiations


This doesn't seem likely to suddenly put the stalled economic rescue bill over the top, but the idea of raising Federal Deposit Insurance Corporation limits is gaining some steam.

House Minority Leader John A. Boehner (R-Ohio), whose conference remains deeply divided over how to proceed on the bill, just released this statement, hours after both Barack Obama and John McCain called for the FDIC to increase its insurance level to $100,000 per individual bank account to $250,000.

"The presidential candidates’ support for increasing the FDIC cap is welcome news," Boehner said. "Increasing the FDIC cap is a proposal put on the table by Roy Blunt and House Republicans but ruled out by Democrats during the negotiations that led to yesterday’s unsuccessful vote.” 

Some congressional negotiators have questioned whether Democrats actually rejected the FDIC idea outright in closed door meetings over the weekend, but now the idea is gaining currency.