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Jim McTague, Washington editor of Barron's, wrote in his February 2 , 2009column, "University of Texas Professor Robert Auerbach thinks he has the makings of a malpractice suit against Federal Reserve Chairman Ben Bernanke, as the Fed is holding a record number of reserves: The banks prefer the sure rate of return they get by sitting in cash, not making loans.
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Before the financial crisis, banks shopped around to make sure rating agencies would award favorable ratings before agreeing to work with them.
Indeed, I believe we are only half to three-quarters of the way through the financial crisis and I am not sure rates in the UK will go up in 2016 at all.
"Commissioner Jones is a staunch defender of Proposition 103 and the protections it provides consumers, including making sure rates are fair and justified and insurers deliver on their promises to consumers," she said in a statement.
Even nations like Italy and Portugal which are in dire straits can sell bonds at extremely low rates; sure the rates are not negative, but it was not too long ago when these two countries were having a hard time selling anything.
Sure, the rate plunge was unforeseen, but it was not an impossibility.
People may say Dan Brown, but I'm not sure readers rate him so much as simply enjoy him (not the same thing).
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Check out these hilarious "Snookishops" below and be sure to rate your favorites.
And sure, the rate has nudged down to below 8percentt, from closer to 10percentthree years agogo.
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CEO of Professional Science Editing for Scientists @ prosciediting.com