In which we talk banks, we'll do a little import export over in the UK, and we'll tell

you how welfare policy in this economy got to where it is.

From American public media, this is Marketplace.

In Los Angeles, I'm Chai Rizal.

It is Tuesday, it's the 18th of April.

Good as always to have you along.

Everybody, we are going to begin today with a little bit of behavioral economics.

Sort of a, what would you do?

Kind of thing.

Appalemite I heard is out with the new FDIC-insured savings account.

They're working with Goldman Sachs.

The account offers a bit better than 4% interest.

And maybe you said to yourself, when you heard that, you know, 4% is pretty good, especially

because the average interest rate on a savings account right now is below 1%.

That is, by the way, according to bankrate.com, they track that kind of thing.

And then at the same time, you might also be thinking, do I really want to go through

all the online forms and close my old account and click through all the terms and conditions

and all the rest that I'm going to have to do just to get that better rate?

Well to a certain extent, it turns out that the banking system kind of depends on you

saying, yeah, it's not worth it.

Here's Marketplace's Matt Levin.

He get us going.

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