Jane Bryant Quinn: Savings Bonds Face Ill Wind From Treasury
Thursday, September 11th, 2008
Categorized as: Savings Bond news
In her column yesterday on Bloomberg, Jane Bryant Quinn blasted the Treasury’s handling of Savings Bonds.
The article begins:
Sept. 10 (Bloomberg) — If the government didn’t deny it, I’d swear they were trying to get rid of U.S. savings bonds.
In January, the Treasury Department made the bonds all but useless to financial planners and other savvy investors who bought them to capture high short-term interest rates. In May, the fixed-rate portion of the interest on Series I bonds, whose interest payments are linked to inflation, was set at zero.
Many of the issues Quinn talks about are ones we’ve covered here in the past. Like Quinn, we can’t figure out what the folks in charge of this program are trying to accomplish, other than perhaps destroy it.