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by kgermino 5621 days ago
(but honestly, to maintain coverage with inflation it was overdue) I have to disagree.

Prior to the increase there was $100,000 of coverage. In 1934 when the program was started there was $2,500 of coverage. After adjusting for inflation this $100,000 (2011) would be worth $6,055.12 (1934). [1]

[1] http://www.wolframalpha.com/input/?i=%24100%2C000+in+1934
1 comments
dkokelley 5620 days ago
The rate was raised to $100,000 in 1980. Adjusting for inflation from 1980 to current, the $100,000 would be worth $275,000 by today's standards. The move to $250,000 was overdue.

The prior rates are irrelevant to my point. See www.fdic.gov/bank/analytical/banking/2000dec/brv13n2_1.pdf for discussion of historical FDIC rates, and the reasoning behind them.

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