Feds cut interest rates but Banks don't have to

That made my blood boil. Banks can do whatever they want! Here's the lowdown from ABC news.
(1) See that little print at the bottom of statements and when you sign up?
(2) what it really says is the banks can change the rates at any time without telling you!
(3) The banks are doing this partially to make up for the money they are loosing because of the mortgage fraud fiasco.
(4) so what can you say - the banks are pigs!
http://abcnews.go.com/Business/IndustryInfo/wireStory?id=4207517

http://abcnews.go.com/Business/MarketTalk/story?id=3619763