With tax-free money market funds paying well under 1% (Vanguard’s Tax-Exempt Money Market is currently paying around 0.61%), it is hard to find a place to park cash if you are in a high tax braket. You can still find high yield savings accounts that pay around 2%, but that interest will be fully [...]
The Treasury Department has released details on the Public-Private Investment Program (PPIP) to help remove toxic assets from bank balance sheets. Unfortunately, I see this as a further transfer of taxpayer dollars to Wall Stree (around a trillion dollars).
Here is the way it works. For every [...]