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Bloomberg published an article today in which several analysts and bank execs said the rates being paid by some banks was insanity (way too high). I guess they haven't heard of competition or of the saying he/she who has the cash makes the rules.

Venture Bank Direct is offering a competitive 3.8% APY savings account.

The SEC charged Mark Cuban, internet entrepreneur and NBA Dallas Mavericks owner, with insider trading. I thought it would be interesting to see what could be uncovered by searching his blog. Mark Cuban is one of the very few celebrities who have been blogging consistently for many years.

The financial services sector continues to contract. On top of the 23,000 jobs cut this year, Citi is now reporting an additional cut of 50,000 jobs, or 14% of its workforce.

Both WaMu and Chase have started offering a competitive 60 month CD paying 5% APY. It's no surprise they are offering the same rate, since Chase purchased WaMu.

The UAW President Ron Gettelfinger is now saying that high gas prices are the cause for the Big Three collapse and that the companys' problems shouldn't be blamed on mismanagement or high labor costs. What a cop out.

The mainstream press is catching on to something we've been writing about for some time, namely that banks are being forced to keep their rates high to prevent runs and to rebuild liquidity.

States and local governments are asking for a piece of the $700 billion Troubled Asset Relief Program funds as revenue drops. This will have consequences for the Muni market.

Citibank announced yesterday that it was raising rates on about 20% of its credit card customers. Other credit card companies are doing the same and cutting credit limits.

Keeping your credit score up or repairing bad credit is more important than ever in a bad economic environment.

Dime Savings Bank if offering a competitive 9-month CD at 4.25% APY.

iGObanking.com raised the rate on its high yield checking account to 3.85 APY. The account has a $1 minimum balance with no fees.

Citigroup's stock fell below $10 in trading today, hitting a level not seen since the mid-90s. There are also rumors Citi may be purchasing Chevy Chase bank. Looking at their stock chart I'm not sure they should be buying anyone.

Irwin Union Bank of offering some competitive rates on non-traditional term CDs, including 40 month, 25 months, and 15 months.

It turns out that not one cent of the $700 billion TARP monies are going to be used for the original plan to purchase troubled assets.