Why are we protecting stupidity?

What am I missing here?

Nouriel Roubini believes,

The bank failures stemming from the crisis have just begun, Roubini says.

“There are about 700 banks in critical condition,” he maintains. “I believe 100 to 150 of them, with about $1 trillion in assets, will essentially go bankrupt in the next year.”

We’ve read that the FDIC needs an additional $150 Billion to meet its needs as banks fail. Yet today, the FDIC, as part of meeting the financial crisis, thinks protection on savings accounts ought to be raised from $100,000 to some higher number. Both McCain and Obama recommend it be raised to $250,000.

Who are we protecting now? What’s wrong with publishing a list of those critical banks and recommending that depositors shift assets above $100,000 to another bank. Why are we protecting stupidity? Why should you and I be on the hook for this stupidity?

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