Chase sucks. Run away!

Most of you who have been watching bank rates know that savings account yields are pretty terrible right now, due to federal lending rates being so low. Lorie and I have both been pretty disappointed at the rate we have been getting on our accounts for the past year. However, the most laughable rate belongs to our friends at the worst bank ever. On its savings accounts, Chase is offering a paltry 0.01% APY. And, if you don't link it to other accounts or have a $15,000 minimum balance, you will get hit with $15 monthly fees. So, let's see....if I invest $10,000 today, I will have gained $1 in interest by this time next year, and this privilege will only have cost me $180 in fees.

As a company, it has probably the best balance sheet of the megabanks, and has yet to report a quarterly loss in all of this mess (thanks to Washington Mutual). I understand that the overnight lending rate is practically zero, so banks can loan to each other for free. I'm just a little concerned about how much longer the boys at Chase can expect their savings-account holders to be providing them with interest-free loans.