Let’s say you need to buy a CD from a bank. Did you know the interest rate can vary up to two percentage points? I didn’t. I thought they were commodities that were pretty much the same price at every bank. I learned that by visiting MoneyAisle.com and talking with Mukesh Chatter, CEO of neoSAEJ, who showed me how his system pits 85 to 100 banks against each other in a reverse auction, I get the best return out there. Now THIS is banking done right!
Star bank holding firm Goldman Sachs has been getting its fair share of antipathy this month. First it was Rolling Stone's polemic against the bank; then it was BusinessWeek's sobering review of how the 140-year-old firm will be profiting from the government-approved scuttling of its major rival, Lehman Brothers, and profiting despite the recession.
Banks have gotten a bad rap recently, and for good reason. The FDIC's Failed Bank List is rife with private banks that have been flattened in the past two years, and we all know about the myriad bankrupt investment banks. But now U.S. Congressman Chris Van Hollen (D-MD) has proposed a bank we can believe in.
I've been involved (and invested) in the formation of a new bank holding
company for a while now. It's time for a new bank, because the existing
banks are up to their ears in bad loans and no one who needs a loan can
get one. The concept of the bank was interesting to me from the get-go,
because it is a holding company for a bank that will operate in four
states: California, Nevada, Arizona, and Texas. This regional concept is
one of the new ideas that attracted me. As an angel investor, I like to