CD rates any one know of a good one
 

I have a CD thats maturing in a few weeks and would like to find a good rate. This one was at 4% for 6 months but the new rate is going to be much lower. The best I have seen is 2.75% with GMAC but I'm not sure I want to put any money with General Motors. I could always bury my money in a shoe box in the backyard .

www.bankrate.com will give you an idea whats out there.

It is just crazy out there right now. Hell a year ago I figured I would keep my cash in a 1 year CD and was getting 5%. Now I wish I would have gone 5 years on it. How can our economy keep afloat?

The rates are nuts (low) out there, even for multi-year CDs. I have a couple of CDs maturing in the next month or so that I will have to figure out what to re-invest them in.

I feel like this must be my fault somehow. Back when I had no money at all to invest I got a great deal on a 30 year mortgage of 12.5% Now that I have a few dollars to put in my Roth IRA my CDs are paying 2.6%.

There have been a few banks offering significantly higher rates than average- These are the banks that need cash desparately. I'd stay away from banks offering high interest.

If they are FDIC insured at least your initial deposit is safe...all you'd lose is the interest in the event of failure. Assuming, of course, you stay under the insurance limit.

I doubt, however, that in case of a bank failure you can simply go visit the FDIC and make an immediate withdrawal.

Anybody know how much time it would take, or what the proccess would be if you had to rely on the FDIC?

In the event of several banks taking a nose-dive, would the FDIC have enough cash for everyone? Would President Obama simply borrow more, and further increase the deficit?