MoneyRates Blog
Who Will Buy Washington Mutual Bank?
By MoneyRates team | Money-Rates Columnist
Online reports are indicating that large institutional shareholders of Washington Mutual Inc. have cleared the way for the troubled banks to be purchased. Goldman Sachs and the federal government have both been rumored to be assisting in finding the right buyer. The orderly purchase of Washington Mutual Bank and unwinding of its suprime mortgage exposure [...]
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Intrade Members Trading Contracts on FDIC-Bank Failures
By MoneyRates team | Money-Rates Columnist
Intrade.com is the prediction market where members can buy contracts on the likelihood of certain future events occurring. Whether it be the next US President or the Academey Awards this site will let members bid on the outcome. A contract for Barack Obama winning the US presidency will cost a member a price of [...]
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Not All Bank Stocks are Subprime Bank Stock Disasters
By MoneyRates team | Money-Rates Columnist
The news has been full of stories regarding the debacles of banks which dealt heavily in the subprime lending markets. Notably, the stocks of Countrywide Financial (-67.9% YTD), IndyMac Bancorp (-79.4% YTD), and Washington Mutual (-51.8% YTD) have garnered a lot of attention. While these stocks may be attractive to speculators who basement hunting, there [...]
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Mutual Bank (Chicago, IL) increases Deposit Rates
By MoneyRates team | Money-Rates Columnist
Mutual Bank is a 40-year old bank based in Chicago, Illinois. Through their website www.mutualbanking.com this banks has been offering excellent CD rates and money market rates for over one year now. This week Mutual Bank bucked the trend of banks lowering rates and has increased their 1-year CD rate to 5.75%. Current deposit rates [...]
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Mutual Bank in Chicago Keeps 5.00% Rates
By MoneyRates team | Money-Rates Columnist
Mutual Bank based in Chicago, Illinois is one of the few online banks still holding their deposit rates on CDs at 5.00% or higher from 1 year to 5 years. Current rates as of October 4, 2007 are listed below:
12 month CD
$2,500 minimum5.00% monthly
18 month CD
$5,000 minimum4.85% monthly
24 month CD
$5,000 minimum5.20% [...]
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Online Bank Deals with Yields of 5.50% and Higher
By MoneyRates team | Money-Rates Columnist
Countrywide Bank is fighting back after a difficult week which the bank maximized its credit line to $11.5 billion, their stock price (CPC) continued to fall, Moody’s warned that the company’s debt may be downgraded to junk, and news reports of customer storming branch offices to withdraw funds. Countrywide has responded by pointed out the [...]
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