Savers are the losers in today's tough times

[jeffrey]

Two giant mortgage companies get into hot water over risky investments. The government steps in to throw them a lifeline should they need it.

Hundreds of thousands of Americans buy homes more expensive than they can afford. Congress approves a rescue package.

Troubles erupt at a Wall Street investment firm that made bad bets on mortgage investments. The Federal Reserve steps in and provides financial backing for the company's takeover...

Business & Technology | Savers are the losers in today's tough times | Seattle Times Newspaper

[MomofFour]

How true is that!

It has always amazed me at how the government is helping out people who are making poor financial decisions while hurting those of us who aren't!

[ThriftoRama]

Yep. I get tired of people in debt up to their eyeballs who used all of their home equity on cars and vacations complaining about how hard life is. People wonder why the savings rate is so low. Where is the incentive?

[Johansen8]

Is that true?

[Joan.of.the.Arch]

This article mentions how one is losing ground trying to save in a bank with less that 0.5% interest paid in the face of inflation of 5% and more.

Does anyone know the last time that saving in a bank (in any way) actually kept one ahead of inflation?

[Aleta]

Even worse than making low interest in a bank is that it gets taxed at the end of the year. I really think that when our economy is in trouble that savers should also get a break of not paying taxes on that money if its in a bank.

This is no different than a lot of government programs where the government gives assistance to those who have squandered their money. There are those that are in real need. I'm not talking about them. But many that have just blown their money.

[jIM_Ohio]

Savers don't lose, it's just that saving is not flashy enough to make headlines.

[bjl584]

I guess that I'm a loser....