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Last week the Fed cut rates by 50 basis points (half a percent) but the average rate paid on a savings account has not dropped significantly. Going back further, savings rates have remained significantly above the Federal Funds rate. What's going on?

Sovereign Bank was quietly purchased by Banco Santander after a run caused it to face collapse. More of this is coming even with the government bailout.

Everyone thought GE was the ultimate secure stock. But recent events have shown that the company has taken a severe hit from the financial meltdown, one that could severely impair it going forward.

Think the deficit and debt are bad now - $30,000 for every person in the US. Just wait another year. This is the unspoken story. We're just trading bad bank debt for government debt.

Even though the Fed dropped rates last week by 1/2 percent, GMAC raised the rate on their online savings acccount from 3.5% APY to 3.75% APY.

The latest financial rescue package is centered around a direct government investment of $250 billion, half of which will go in 9 major banks.

It's a screaming headline and it's true. After bringing this country to its knees, many key US banks are now going to have to deal with Uncle Sam for the foreseeable future. That should be fun.

There is no surprise that the market had its biggest one-day gain in 75 years after its biggest one-week loss in history. Today may feel good, but we have seen this all before.

Apple fell 27 cents and GE fell 7 cents all week. One is a stock that you should buy and the other is one that you should sell.

Two more banks failed yesterday, Northville, Mich.-based Main Street Bank and Eldred, Ill.-based Meridian Bank bringing the total number of failed banks in 2008 to 15.

Who knows if we've hit a bottom, but here's an interesting fact. According to the WSJ, nearly one in 10, or 876 stocks, trade below the value of their per-share holdings of cash.

When I was in college, Morgan Stanley was the place all of the soon-to-be Ibankers wanted to be. It was the blue chip, along with Goldman, of the NY Investment banking world. A company that once controlled markets is now at the market's mercy.

Many analysts and investor watch dog groups are saying that municipal bond issuers are not providing enough information to their investors. Issuers are only required to file an annual report but in today's market, a bond rating or the material condition of the municipality could change in months.

DollarSavingsDirect raised the rate on their online savings account from 3.75% APY to 4% APY, putting them at the top rate savings rate spot on the BestCashCow rate tables.

This the financial failures are just confined to the US and Europe. The cloud has spread to Japan, sucking in Japense insurer Yamato Life.