[Congressional Record Volume 154, Number 161 (Friday, October 3, 2008)]
[House]
[Page H10702]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          FDIC INSURANCE RAISE

  (Mr. COHEN asked and was given permission to address the House for 1 
minute.)
  Mr. COHEN. Madam Speaker, I am pleased today that when the House 
considers the Economic Stabilization Act, it will contain an FDIC 
insurance raise. On the 22nd of September, I filed a bill to increase 
the FDIC insurance to $200,000 to protect our independent depositors 
and our community banks.
  This is a very difficult vote, as it was on Monday, because there is 
medicine that's bitter that you don't want to take but that you need. 
Sir Edmund Burke, a great member of parliament in Britain in the 1700s, 
said a legislator has a duty to his constituents to listen to them, but 
also to vote in what he believes from what he learns is their best 
interest. A good legislator has to make that decision.
  Years later, another great British philosopher, Mick Jagger said, 
``Sometimes you get what you want, and sometimes you get what you 
need.''
  This time, we are going to do what the American economy needs. It's 
difficult but correct.

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