Thursday, August 23, 2007

 

Timing

I have a CD account matured recently. According to the bank's notice, if I rollover, I should get a pretty good rate, so I rolled it over. However, when I checked my account today, the rate was much lower than what I was told. I called the bank immediately to ask for a higher rate. The CSR told me that the bank lowered the rate two days before my maturity date. I was like, WTF. After I hung up the phone, I realized that it was not the bank's decision but Federal Reserve lowered the rate last week to save the stock market. I could have lost more money if AMD goes to single digit.

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