MoneyRates Blog
Will Big Banks Really Be Broken Up Into Bits and Pieces?
Not sure if you’ve been following the latest bank hearings–there have been so many of them over the past year, who could begrudge you for missing out–but these bank hearings may be bigger than most.
The Senate is dicussing what to do about the “too big to fail” big banks and too big other companies that [...]
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Bank Reform Debate Continues Even as Recovery Continues
It’s not surprising that former Fed Chairman Paul Volcker has voiced the opinion that banking reform must include the break-up of large institutions, including the separation of commercial and investment banking operations. However, having John S. Reed’s voice join the same chorus is really reason for pause.
Paul Volcker’s regime as Fed Chairman was strikingly different from that of [...]
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Will New Bank Regulations Protect Your Savings Account? If So, How?
Treasury Secretary Timothy Geithner testified before Congress this morning on the topic of new bank regulations being discussed by the Democrat-controlled Congress, led by Barney Frank of Massachussetts.
Conservative investors who are seeking to protect retirement savings are understandably interested in the outcomes of these discussions. When you have spent your life saving money in savings [...]
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Bank Pay at Bailed-Out Banks Slashed by Half
Pay for top executives at bailed-out banks and financial institutions, including Bank of America, Citigroup, and GMAC, has been cut in half by the Treasury’s compensation regulator, Kenneth Feinberg.
Banks that have already paid back bail-out funds, including JPMorgan and Goldman Sachs, will not be affected by the Treasury’s orders.
Headline Not the Whole Story Here
How to [...]
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Savers Appear to Be Getting a Little Bit Angry
Looking for the best rates on CDs, money market accounts, and savings accounts used to be pretty fun. Now, for many savers, it’s downright frustrating.
Bank rates on deposit accounts, that is, are frustratingly low. And now, with the specter of inflation rising, savers are starting to get a little bit angry.
Inflation Good for Debt
Who are savers [...]
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Bank Earnings Hugely Dependent Upon Trading
Money-Rates banking expert Richard Barrington called yesterday for politicians to take another look at the Glass-Steagall Act, a longstanding financial regulation that separated banking from investment activities, and was repealed in 1999 with the Gramm-Leach-Biley Act.
While this advice to politicians certainly makes extensive sense and might lower the risk of individuals holding money in money market accounts, savings [...]
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FDIC Pays to Milk Cows in Colorado
You knew FDIC regulators were talented, but did you know they can milk cows? Or, rather, they can pay for cows to be milked?
NPR reported today that due to the failure of New Frontier Bank in Greeley, Colorado, farmers who had loans with the bank were in danger of losing their crops and their cattle.
Therefore, [...]
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Savings vs. Debt Equation Gaining Important Publicity
If you have not already, make sure to read the great articles from Money-Rates.com contributors Adam Jusko and Richard Barrington that mutually show how saving money is much better than going into unneccessary debt.
Indeed, saving money has become as wise today as refinancing the house was (or seemed?) when you had 75 percent equity and could [...]
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Big Banks May Be Forced to Pay Extra Insurance
The so-called “G20″ nations will meet today and tomorrow in Pittsburgh. One particularly prominent issue is what to do about banks that are “too big to fail.”
If you have CDs, savings accounts, or money market accounts, the G20 meeting may actually amount to something more than bland platitudes this year.
Big Banks Backed by Government No Matter What
The repeated and [...]
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Increased Demand for CDs On the Horizon
There is a lot of talk in the financial press these days about “cash on the sidelines.” Usually, cash on the sidelines is mentioned as a reason why stocks will continue to rise as more buyers enter the market.
But what if a lot of that cash goes into CDs? It’s very possible.
Cash on the Sidelines Less [...]
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Money Market Accounts, Money Market Funds, and September 18
In September of 2008, a $62.5 billion money market fund operated by the late Lehman Brothers “broke the buck,” meaning that the net asset value (NAV) of the fund dropped below the value of the investor contributions.
That is not ever supposed to happen, and when it did, the Great Panic of 2008 was officially underway.
Government [...]
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What If The Banks Are Nationalized?
During the past week a new discussion has begun to emerge in Washington, the matter of nationalizing banks.
This is a big deal, symbolically and in other ways. If you have a CD, money market account, savings, or IRA you need to keep an eye on this conversation.
As this is written many bank stocks have taken [...]
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