Is Nebraska Affected by the Financial Crisis?
Is Nebraska Affected by the Financial Crisis? Save Email Print
Lincoln, Neb.
Posted: 9:31 PM Sep 30, 2008
Last Updated: 10:33 PM Sep 30, 2008
Reporter: Alicia Myers
Email Address: alicia.myers@kolnkgin.com

A | A | A

President Bush and his administration are hopeful to turn the Nation's economic woes around as early as Wednesday, when senate leaders are now set to vote on a new rescue plan.

As Congress gets one step closer to passing a plan, local citizens are becoming worried about their own finances.

With the financial rollercoaster ride the U.S. has taken in the past few weeks, Jeff Krejci, Chairman of the Nebraska Bankers Association said many are becoming concerned with how the bumpy ride is affecting them.

"The everyday citizen is having trouble deciphering who this is, and what is happening. They're asking things like, "Am I covered?" "Do I have FDIC coverage?" They want us to assure them that their money's safe. They want us to assure them that FDIC has been around for 75 years. There's never been a dime lost with anyone insured by FDIC," said Krejci.

Krejci said thus far, Nebraskans have nothing to worry about.

"We're in Nebraska and in a bit of a garden spot right now. Our capital is strong in our banks. There's not a restriction of credit going on in the state of Nebraska. If you're concerned about what you're doing with your money, there's no safer place than a bank in Nebraska," said Krejci.

Bank customers like Tricia Branchaud said while she is not concerned with the affects on her personally, she and others are definitely ready for the bailout plan to pass.

"I think for the average person, it's just bigger than they can comprehend. We're talking about dollar amounts that don't make sense to people because they can't wrap their minds around it. I think people are trusting that it's going to be okay, but I think underneath worried, and hoping for some closure," said Branchaud.

Krejci said the sooner lawmakers come to an agreement on the rescue plan, the better.

"We think it's more important we have stability in the market right now, so that the credit on a global basis can be loosened up and not frozen, and help our economy stabilize," said Krejci.

Senate leaders have scheduled a vote for Wednesday on the $700 billion rescue plan.

Majority Leader Harry Reid and GOP Leader Mitch McConnel said they are going to add a tax cut package to the plan, which was already rejected by the house.

The Senate plan would also raise federal deposit insurance limits to $250,000 from $100,000.

More Stories
Lance's Journal: One Woman's Treasure, July 6

Mayor Presents Budget to City Council

Governor Pushes Stimulus Funds To Increase Teacher Pay

Local Child with Diabetes Lobbies Congress

Bovine TB Tests Clean

Longtime Roads Department Employee is New Director

Eagle Man Dies in Crash

Neighbors Fight, Go to Jail

Post Your Comments
First Name:
Location:
Enter Comments: characters left
Email (optional):
By posting this comment I have read and agree to the Terms of Use and Privacy Policy:
You must agree to the Terms of Service to continue.
CarStar
What's On KOLN/KGIN
Special Features
Fourth of July Independence Day
Happy Fourth of July!
Community Calendar Community Calendar
Search and post upcoming community events
BryanLGH Healthy Everyday - BryanLGH
Health tips and stories
Wedding Information Bridal Boutique
Plan your wedding
It's Your Shot It's Your Shot
Share your photos
Buy It Nebraska Buy It Nebraska
Sell your stuff... buy some more!
Lance's Journal Lance's Journal
Nebraska's hidden treasures
Moms Everyday Moms Everyday
10/11 parenting stories and Serese Cole's Mom-to-Mom blog
It's Your Shot - Kids, Pets and Randoms!