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The economy is collapsing. The banking disease has now extended to the US's "real economy". Tax stimulus and the consumer economy have failed and we seem to be headed to a real depression very quickly. The IPhone is the only thing that can save us here.

In the current dreadful economic environment, online savings accounts may provide security of your principal (as long as you stay within FDIC limits), but the rates can fall out from under you in a second.

Markets were gearing up for some type of interest rate hike later in the year in response to inflation pressure. The latest financial sector problems may have put those hikes on hold.

We've now had five bank failures in 2008 and I wanted to see how we are doing compared to the real estate downturn in the 1980s and savings and loan crisis it precipitated. The results are interesting.

According to the FDIC website, Indymac will continue to pay interest at the contract rate. I assume this means that everyone who opened a high yield CD will continue to receive their interest payments.

Panic has set in over Fannie Mae and Freddie Mac. They have taken a necessary hit but is the talk of insolvency justified? Some markets don't think so.

My sources say that Bank of America is clearing house just days after Ken Lewis's town hall meeting.

As Bank of America's stock has plunged, its dividend has soared. It paid a dividend of 64 cents a share in April which amounts to a 11.61% dividend yield. Should you invest? It depends on your risk appetite.

Without great fanfare, this problem has begun to wind down.

The problems with Fannie Mae and Freddie Mac are one other example of how the old financial system is collapsing. The result will be higher rates for everyone and sinking home prices.

Stumbled across this and thought it was interesting.

Markets are tanking. This is a terrible time to be invested.