Obama wants to raise deposit insurance

Wonder of wonders, McCain was just on Morning Joe agreeing with this. I had heard this brought up last week as something simple and effective to do that regular people would understand. Won't do anything to help the meltdown, but might make people feel better.

Sen. Barack Obama (D-Ill.) on Tuesday proposed that the revivied bailout plan include an increase in federal insurance on deposits from the current $100,000 to a beefed-up $250,000.

Obama calls it "a step that would boost small businesses, make our banking system more secure, and help restore public confidence in our financial system.