Banking Flags
August 22nd, 2008 at 12:22 amAfter reading a lot about the Indy Mac failure, I realize that when banks are in trouble, they try to increase their deposits to increase the cash reserves. I read so many stories about how Indy Mac had a great promotional CD rate a few months back so people had their money locked up.
So today I get a call from the local WAMU branch letting me know about a promotional 8-month CD rate they are offering. They were on the watch list. I'm just saying.