Doug Ose: “Dr. Thomas raises the issue that ``There is absolutely no public outcry over or even widespread interest in the proposal…”

“Dr. Thomas raises the issue that ``There is absolutely no public outcry over or even widespread interest in the proposal to,'' he says, ``double the FDIC insurance limit. Most people know or should know from their banks that any couple can get multiple account coverage, and singles need only open another account at any bank via a personal visit, a telephone call, or even the Internet. There is no shortage of $100,000 insured deposit investment opportunities. Some seniors may have a preference to keep their jumbo CDs spread out among several banks in $100,000 or less amounts, even if they have the opportunity to keep $200,000 at one bank.'' This speaks directly to what the current situation is. The current situation allows people to protect themselves under the current $100,000 limit. The testimony we have had at the subcommittee from high ranking government officials, from people in the business to academia, is that increasing this limit significantly increases the risk to the insurance funds. Speaking from personal experience, I actually weathered the last time we went through this.”