by Larry Teren
The big news in the financial markets the other day was the lowering by Moody’s Investor Service of fifteen major banks ratings. To most of us, the news elicited a big shrug of the shoulders. After all, banks haven’t been paying out much interest to depositors for the past few years. I think the monthly interest I get on my personal checking account is at .01 (or 1/100th of a) percent. I look forward to the eight cents added to my account each month (yawn).