Free Republic

There's two bulls standing on top of a mountain. The younger one says to the older one: "Hey pop, let's say we run down there and f*** one of them cows". The older one says: "No son. Lets walk down and f*** 'em all".                           - Robert Duvall in ColorsThe world was shocked this weekend to learn that the European Union would fund the bailout of Cyprus by confiscating the assets of ordinary bank account holders.  Core Europeans and Americans no doubt comforted themselves that such a...

NEW YORK (MainStreet) – After seven straight months of improvement, the consumer interest climate took a turn for the worse in August as deposit rates dipped sharply below already-historic lows. Certificate of deposit rates across the board fell significantly in August, according to the Credit Power Index, produced by RateWatch and MainStreet. As of the end of the month, interest paid on 12-month CDs had fallen four basis points to settle at 0.43%, 36-month CDs dropped 12 basis point to fall below 1%, and 48- and 60-month CDs saw similar big drops. CDs and other deposit products seemed to be...