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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (67310)	8/8/2007 2:26:12 PM
From: mishedlo	Respond to of 116555

High Rate CDs and other Moral Hazards globaleconomicanalysis.blogspot.com People chasing "high yield" CDs are losing their life savings even in FDIC accounts. FDIC insurance is the problem because it causes money flow to the riskiest banks. This is a huge moral hazard as it provides funding for malinvestments such as more Florida condos. A free market where everyone accepts responsibility for what they do is the solution. BTW - I forgot to mention - I get a nice and much appreciated plug from Gary North Mish