Financial Information
Why havent interest rates on your savings account increased long after the bailout?
Economic crash of 2009 – banks had to lower interest rates on their savings accounts. Now in 2010, the rates are still what they were post-bailout. Shouldnt the interest rates bounce back to normal now that everything else is back to normal (and the banksters are happy)?
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#2 written by efflandt 1 year ago
The banks would rather pay you as little as possible, and charge as much as possible to loan it out. After all, their goal is to turn a profit.
But loans are still risky with the current state of the economy, people are still losing jobs, foreclosures are still happening, and the government is intent on spending money they do not have. So the risk of loss is what keeps the spread between what they pay you for your money, and what they charge to borrow it.
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Everything is NOT “back to normal.” Just look at current bond interest rates – there’s your answer.