"Traditional certificates of deposit offer better interest rates than normal savings accounts for customers who agree to lock up funds for a period of time. Since the 1960s, they have been among the most popular products retail banks offer. Now Wall Street has re-engineered the most bread-and-butter of investments in a way that leaves many investors with lower returns, and facing losses if they have to cash out early."
Although the "GS Momentum Builder Multi-Asset 5 ER Index-Linked Certificate of Deposit" proved toxic, a lot of risk-averse investors would welcome an honest product engineered to convert, say, a volatile return on stocks averaging 7% into a CD paying a steady 3.5 or 4%. Possible?
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