Hello one, hello all.

I'm your host, Nicholas Anthony, and today I have two guests with me to help roll away the

due and dig deep into the proposal to increase the federal deposit insurance corporation cap from

250,000 to 10 million. That is not a joke. That's not an exaggeration. That is the real deal.

So to unpack this, I have two great folks with me. I'm joined by Jill Castilla.

You've probably seen her testify before Congress. You've read about her in the Around the

corner paper. She's the CEO of Citizens Bank of Edmund and founder of Roger Bank. And frankly,

that's only the tip of the iceberg.

Jill is an inventor, patent holder, and much more.

And if we're talking about the FDIC, I have to bring in my boss, Cato's very own Norbert

Michelle.

So, $10 million.

That's a pretty big chunk of change.

Norbert, do I understand this right?

Am I doing the math wrong?

What is going on here?

Why does $250,000 suddenly need to be $10 million of coverage?

Yeah, it doesn't.

And you're not doing the math wrong.

One of the things that we get some pushback on when we talk about this, too, from various folks who support it is, oh, we're not talking about raising it to $10 million for every account.

We're only talking about raising it for the non-interest-bearing transaction accounts. Well, that's sort of sly trickery on their part, because if you look at all the transaction accounts, whether they're interest-bearing

or not, you're only talking about

...