[DuncanWaring]

Message to savers: “FU”.

There were decades when S&Ls paid 4% on passbook savings and loaned the money out on houses at 6% ... and it worked just fine.

No more.

[fatnotlazy]

My father was one of the first to purchase certificates of deposit. At the time, I believe the interest rate was 18%. I have one now and it pays around 2%. Whatever interest I earn goes back to the feds in taxes. So these CDs are just not worth it.

To be fair, this decline has been going on.through Republican and Democrats. It's just accelerated during the Obama regime.