Certificate of Deposit Rates Keep Falling
For over a year the trend of Certificate of Deposit rates keep falling has become disheartening to many Americans. This is all due to the monetary policy set forth by the previous and present administrations. In principal this strategy of low interest rates for loans would make it more attractive for people and business to borrow money. The problem is the financial institutions that hold the money are refusing loans at a record rate.
These same financial institutions are the reason the world is now entering a double dip recession. When they needed help during the start of the recession they received a tax payer bailout. The money was intended to be loaned out to avoid a long drawn out recession, which has now occurred.
The banks reasoning for not approving loans are because of the mistakes they made in the past. By loaning to people they knew could not pay back the amounts they were borrowing, now they do not want to repeat the same mistakes.
In reality these same financial institutions took the bail out money and paid their executives huge bonuses for ruining the world’s economy. That is where the money they were supposed to loan out went.
In the first and second quarters of the year 2010 these same financial institutions are seeing great profits while the rest of the economy is in stagnation. This was done by raising fees and installing new fees on the basic services people needed from them.
The present CD Rates are at near record lows so where are all the profits going. Still into the pockets of just a few upper management members of the large financial firms that are still refusing to give out loans.
The corporate greed that runs the large financial firms is in place and will remain until they are dissolved. Until then expect the Certificate of Deposit rates keep falling.
Greed has become the American way now as evident by the administrations unwillingness to stop the corporate banking system from destroying the American way of life. This is just an American’s opinion that has already lost his home because of circumstances out of his control.
For additional resources about CDs on this website, please view 53rd Bank CD Rates. On our other sister sites, there is information on bank services at on Wells Fargo Online Banking.
We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.
Related posts:
- Certificate of Deposit Guide – Everything You Want to Know About CDs
- Certificate of Deposit Rates
- American Express CD
- How to Invest in a Certificate of Deposit
- SunTrust Bank Certificate of Deposit Rates
Tags: bank, bank cd rates, banks, Best CD Rates, CD rate, CD rates, falling rates, investing, money, rate, rates
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