Market Currents
Thursday, August 20, 2009
4:27 PM
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U.S. bank deposits swell by $500B to a record $7.5T, a sign customers feel the system is working. But large institutions say they're frustrated by a recent trend that sees big customers spreading themselves across multiple banks, in part to sidestep the $250K limit on government insurance.
This news story has 7 comments:
Well if they want to keep more of their customers money how about paying higher interests on deposits and charging lower interest on loans and fees etc? Oh do they think that just because they co-opted the government and the taxpayers money they also have the right to unlimited amounts of the private money too?
On Aug 20 04:35 PM Robespierre wrote:
> "But the biggest banks are also watching in frustration as longtime
> clients spread their business, and their deposits, among multiple
> other banks."
>
> Well if they want to keep more of their customers money how about
> paying higher interests on deposits and charging lower interest on
> loans and fees etc? Oh do they think that just because they co-opted
> the government and the taxpayers money they also have the right to
> unlimited amounts of the private money too?
So we should accept 0.05% interest rates and the risk of having no FDIC insurance? Unlike banks, savvy individuals try to minimize risk and maximize reward. Banks are stupid and we are onto there evil and greedy ways....hehe.
I urge all to do the same. Banks are leaches sucking off stupid people and the Gov't (same thing? lol)