Why do the banks need my money? (CD offerings)

From: Mason A. Clark (masoncNOT_at_THISix.netcom.comQQQ)
Date: 07/27/04 

Date: Tue, 27 Jul 2004 02:31:45 GMT

Apropos of banking, money, credit, the Fed, etc.

Local banks are advertising CD's at "high" interest
rates -- high compared to bank accounts and high
compared to the Fed discount rate.

Why do the banks need this money? Is it just a
marketing scheme to get new depositors? But if
so, why do they need new depositors? Can't they
make loans to create money and depositors?

(I know this has been answered by my memory ain't good.)
 
   Mason C

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