Terry Savage

My column this week http://www.suntimes.com/business/savage/943998,CST-FIN-terry12.savagearticle
talks about the products offered inside banks that are not FDIC insured.
The term "money in the bank" now seems to refer to a wide range of products being sold to people looking for higher yields -- ranging from annuities, to unit investment trusts, to other securities -- none of which are FDIC insured against loss.
Yet because they are sold INSIDE a BANK and by "personal bankers" -- many people don't recognize the risks in these products.

I've heard from both sides! Check out these comments and add yours!

Posted by Terry Savage at 09:41 AM | Permalink | Comments (5) | TrackBacks (0)

Is the media getting "bored" with stories of people being foreclosed, evicted from their homes, because of sub-prime mortgages? Have we stopped asking questions about blame -- and just given the banks, Congress, the mortgage brokers, a pass on this one? I posted questions in today's column: http://www.suntimes.com/business/savage/931350,CST-FIN-terry05.savagearticle
What do you think?

Posted by Terry Savage at 10:59 AM | Permalink | Comments (4) | TrackBacks (0)