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  • Easy for Top Banks to Make Money with Low CD Rates [View article]
    I've added this comment to the article on my blog:

    "I used to get great CD rates at World Savings. World Savings was bought by Wachovia which continued to pay high rates to attract assets. Washington Mutual (WaMu) and Wachovia competed for deposits with each other by offering high rates.

    To help save the banking system, the US eliminated some competition so the banks that are "too big to fail" can make money more easily. Wells Fargo, which had low rates all along, bought Wachovia. Likewise, Chase Bank bought WaMu. Now small savers have joined US taxpayers in bailing out the banks!"
    Sep 25 12:10 pm |Rating: +1 -1 |Link to Comment
  • Easy for Top Banks to Make Money with Low CD Rates [View article]
    On Sep 25 11:01 AM greedcanbgood wrote:
    > Too bad you don't understand how assets and liabilities are funded > by banks. It's not as simple as CD rates versus 30-year motgage.

    Too bad your manners and reading comprehension are equally lacking. I never said it was that simple.
    Sep 25 12:08 pm |Rating: 0 -2 |Link to Comment
  • The Banking Panic Isn't Over  [View article]
    Good story but I believe some of the facts are missing or have been ignored.

    You wrote:

    "I cannot say for sure that the deal between Wells and Wachovia was government forced. However, it is my observation that the Wells deal with Wachovia was simply a PR ploy to get the public to believe that Wells was healthier than Citigroup (C) and therefore better positioned to take on new responsibilities. "

    At the time there was a run on Wachovia, didn't the government go to Citigroup and ask it to put itself on the line to take over Wachovia? After the Citigroup deal stopped the run on Wachovia, along with increasing the FDIC limits to $250,000, Wachovia found it could get a better deal with Wells Fargo. At the time, it felt like Citi got screwed and the assets went to Wells Fargo.
    May 12 09:18 am |Rating: 0 -1 |Link to Comment
  • Why Bank Nationalization Will Never Happen [View article]
    Good points.

    Also, the government has made it quite clear with its actions that it would not let BAC or Citi fail. To do so now would mean anyone the government approaches in the future would not trust what they are told.

    Feb 16 09:52 am |Rating: +1 -2 |Link to Comment
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