Savers Did Not Cause Financial Crisis, But Get Hurt By Low Interest Rates

During this financial crisis over the past four years, in an effort to rescue Big Banks the Federal Reserve has lowered interest rates to 0.2%.  Therefore, people who have raised their savings to cushion themselves against loss of jobs or homes have earned almost nothing on it.  These people have done nothing to cause the financial crisis while the Big Banks who caused it got rescued.  Homeowners, though, can refinance their mortgages to loans with lower interest rates.  However, people have not purchased homes at the rates they used to most likely due to uncertain long-term employment prospects.  It is also likely that many people are being more deliberate in which banks they take out big loans from to purchase cars or homes.


http://www.nytimes.com/2012/03/04/business/low-rates-for-savers-are-reason-for-complaint-fair-game.html?_r=3&ref=business