Jul 14 2008
FDIC: Punishing Savers: How the United States Encourages Irresponsible Financial Management. Federal Deposit Insurance Corporation.
The FDIC insurers deposits at most institutions up to $100,000 for individual accounts. Many people haven’t put this to the test until the recent collapse and takeover of IndyMac Bank based out of Southern California. The bank when taken over had $32 billion in assets and $19 billion in deposits. $1 billion [...]
Apr 6 2008
Money Markets, CDs, 401ks, and Savings Accounts that Lose Against Inflation: A Society that Punishes Savers.
One of the unintended consequences of this housing market is the punishment conservative savers are taking. Last month we had the rather astonishing release of data from the Bureau of Labor and Statistics telling us for the month, that inflation was at 0 percent. As disconnected as this is from reality, there is [...]
