Well that once again is thank to rugged Ronald the asshole of asshole Presidents. When I was a child in the 1950's a passbook savings earned 5 1/4 % and it held their until Reagan came along and deregulated the banks. Suddenly banks went from a savings Ban to an INVESTMENT Bank, and rate dropped, and dropped and dropped. In some places to .01%.
It is hard to save when you are told not to and have to pay for every little service.
http://www.nytimes.com/2012/01/28/opinion/banks-taketh-but-dont-giveth.html?_r=1
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