Tuesday, March 18, 2008

fed cuts interest rate again..

I can understand how this cut helps people with debt, but all these cuts are killing my saving interest earning power. I can't find any CDs, money market accounts that pays a decent interest rate. Every time the Feds cuts the rates, my ING Direct interesting earning rate drops. The best money market account rate I can find is from Country Wide Bank around 4.5% a few weeks ago. While, I know that my money is safe in CWB, however I don't want to support the company that is partially responsible for all the mess that we are in now.

Any way you look at it.. The government will be eventually be bailing out lots of businesses and individuals. It's only a matter of time. The good guys that play by the rules gets to pay for other people's sins. What is the lesson from all this mess? Don't trust anybody with your money. Not the government, not the banks, and definitely not any sales people.

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