Banks are not offering reasonable rates on savings or money market accounts, despite the fact that they are making large dollars on loaning out YOUR MONEY, often at rates as high as 20% or more compounded. Back in 2004 we had a mortgage rate of 5.25 and a money market that essentially paid the mortgage. after the Great Recession, banks dropped the interest rate to near 0, mirroring the Fed's help to them.. But they continued to charge borrowers the same or more. Time for some new rules: Banks must share the wealth. Play with our money, we get a fair cut.
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