October 3rd, 2008
Congratulations America. You are now on the hook for $700BB. Let’s hope and pray that this works. Failure can not be an option.
I would honestly like to hear from small business owners. I’ve heard stories from both sides. Those that run on a cash-only basis that were against this and those that were facing missing payrolls because they couldn’t get a short-term loan (at a reasonable rate).
Part of the bill included the provision to temporarily raise the FDIC insurance limit to $250,000 per single account. Unless made permanet this expires in 12/09. The Bill has been signed by the President. So now we are waiting for confirmation from the FDIC
-- By +Chris Duncan