As we've seen a lot that takes place on Wall Street comes from perception as well as real numbers so I think it was a smart move for Obama to ask that the FDIC insurance on our bank accounts get raised to 250K. It gives people confidence in their banks and will ease a little tension there. What would happen if everyone withdrew their money from from their bank out of fear? Talk about a nightmare. He needs to lead on the economy and this is a good step.

"The majority of American families should rest assured that the deposits they have in our banks are safe," Obama said in a statement put out by his presidential campaign. "That is why today, I am proposing that we also raise the FDIC limit to $250,000 as part of the economic rescue package - a step that would boost small businesses, make our banking system more secure and help restore public confidence in our financial system."

The FDIC has joined in: