Yet Another Bailout for Reckless Savers and Investors?

We all watched in horror as Washington bailed out failing financial institutions … dishonest lenders … and greedy borrowers and speculators with our tax dollars. And as responsible savers and investors, we continue to suffer from the fallout as the Federal Reserve’s policies are keeping interest rates on traditional savings vehicles near zero. Yet now our legislators are going to add one more little piece of insult to all this injury in their sweeping financial overhaul package by retroactively compensating thousands of depositors who lost money beyond the amounts covered by FDIC insurance. A Quick Recap of FDIC Insurance … Most individual bank accounts — including checking, savings, trust, certificates of deposit…
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