Articles

Chinese consumers have been socking away money in time deposits (what we call CDs) for the last year and while you would think banks might like it, they don't. Banks worldwide suffer when consumers shift their money from low interest savings to higher interest savings and time deposits.

The abandoned resort town of McAllister ranch is emblematic of the problems facing Lehman Bros as it struggles to survive and remain independent.

Bank of America is offering $75 to open a My Access checking account online. There's a catch though.

Everbank raised the rates on its money market and savings accounts today, continuing a general bank trend of rising rates.

Indymac raised the rate on its 12 month CD to 4.30% APY make it the clear rate leader on the BestCashCow rate table.

Emails from UBS continue to paint a picture of banks knowingly selling damaged and failing investment products to individual investors in bids to reduce their own exposure.

Preliminary figures show Japanese inflation at a 10-year high of 1.5%.

The Fed didn't raise rates today but it will have to before the end of the year. The EU will make sure of that.

Ben Bernanke proved today that he is too weak to stay as chairman of the federal reserve.

The Fed today announced it was keeping rates at 2% as was widely expected. It's announcement opened the door for future rate hikes as its statement mentioned the danger of inflation.

IndyMac yesteday raised the rate on their 6 month and 12 month CDs, which are now offering 4% APY and 4.25% APY respectively.

The Federal Reserve is expected to keep the Federal Funds rate at 2% tomorrow but traders and banks have already anticipated a future rate increase.

M&T Bank, NA is offering some of the highest rates on 2 and 3 year CDs. The only problem, a somewhat kluge application process.

The business media is screaming about fresh lows in consumer confidence. But are things really that bad? Unemployment is relatively low, the stock market is down but hasn't crashed, and Bush will be out of office in less than a year.

The Case/Schiller home price index now shows that housing prices dropped a record 15.3% in the past year and are now at 2004 levels. Another report shows that the rich dumped their real estate in 2006.