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Ten financial groups including JP Morgan Chase and Goldman Sachs were given permission by Treasury to repay $68 billion in TARP funds yesterday.

Irving Picard, the Madoff trustee, is taking a very aggressive approach vis-a-vis Madoff investors. Since he believes that the entire fund was a fraud, he has ruled that each investor is only entitled to a return of their basis.

Tomorrow, Ken Lewis, the head of Bank of America goes in front of Congress to testify on the events leading to the Bank of America acquisition of Merrill Lynch. The lesson that he gets should be one that every CEO should be required to adhere to.

Build America Bonds, the taxable muni bonds subsidized by the Treasury have helped to stabilize the municipal bond market. They may also be bringing more transparency to the municipal bond market.

Fed funds futures showed a 58% chance of a rate increase by November but many bond traders don't believe the Fed will raise rates over the next 12 months. Who to believe?

The US Savings Rate increased to 5.7% of disposable income in April 2009 and economists expect it to go to a post WWII high. That means less demand for goods and services, less growth, and lower stock prices.

Last week, President Obama signed a law that includes provisions that extend the $250,000 FDIC & NCUA deposit insurance limit to December 31, 2013.

A quick glance at the CD rates offered by the big banks - Chase, Wells Fargo, and Bank of America, shows that the banks offer some terms that are competitive while others are not worth it.

At a time when credit card companies are jacking rates and rolling back benefits, Chase has decided to launch a new credit card rewards program dubbed Ultimate Rewards. Is it any good?

Tennessee Commerce Bank is offering a competitive savings account paying 2.30% APY. It's also offering a some top cd rates.

Promotional savings rates - especially those where the bank commits to locking a certain rate for a certain period - are a win-win.

Everbank raised the promo rate on its yield pledge money market account from 2.55% to 3.01%. This reverses the trend of six months of rate cuts and may be another sign that we are reaching the bottom in savings and money market rates.

Tiananmen Square was a big event, but it didn't change the world.

Today was a very exciting day across all markets globally as the 200 day moving average was breached to the upside.

Cash has quickly converted from the best asset class to the worst in 10 short weeks. Is it trash?