Not just Cyprus! Who Else Has Plans To Grab Small Depositor Savings To Bail Out Failing Big Banks?

[sabrina 1]

11. Well, one reason is profits for the Banks I suppose. I just reread your

first comment re the history of interest rates on credit cards. I blame Congress as it seems that any time anyone does try to do something about controlling those rates, it doesn't get much support in Congress. And this leads back to the influence on our entire system of Wall Street. There is no way any member of Congress who is actually representing the people would not see the need to pass a federal usury law as you suggest. That says to me that they do not represent the people for the most part.

One question though, probably a very ignorant one as, as I said, I know nothing about finances. But wrt to this:

With rates this low, there's no reason for credit cards to be charging double-digit interest rates to people with good credit scores, except that there are no usury laws in place to prevent it.

How are interest rates on Credit Cards tied to interest on Savings and/or CDs?

And again, why is interest so low, even as you point out, on Treasury Bonds? Do banks no longer need depositors? And if not, why not?