Free Republic

Obama pitches plan to amend bailout bill By Klaus Marre Posted: 09/30/08 10:26 AM [ET] Democratic presidential nominee Sen. Barack Obama (Ill.) on Tuesday proposed to increase the bank deposit insurance limit, hoping that the move could help get a Wall Street bailout passed. “Continued inaction in the face of the gathering storm in our financial markets would be catastrophic for our economy and our families,” Obama stated, urging continued bipartisanship to get the measure passed. The Illinois senator said the bailout measure rejected in the House on Monday was a “marked improvement” over Treasury Secretary Henry Paulson’s original proposal....