Posted by: alaine0106 on: May 19, 2011
I found an article that explains why your money may be safer with a bank, but a lot less profitable. This post goes along with my previous post regarding where Americans should put their money in our current economic state. Even though they are trying to “fix” the banking system, there are still a lot of problems that every American should be made aware of. I’ve long believed that you are better off putting your money under your mattress than depositing it in a bank. So………..Here’s an exerpt from the article:
“THE NEAR-COLLAPSE of the world’s banking system two-and-a-half years ago has prompted a fundamental reassessment of the industry. Perhaps the biggest casualty of the crisis has been the idea that financial markets are inherently self-correcting and best left to their own devices. After decades of deregulation in most rich countries, finance is entering a new age of reregulation. This special report will focus on these regulatory changes, which will be the main determinant of the banks’ profitability over the next few years.”
You can read the rest by following this link. http://www.economist.com/node/18654622
