If you're think interest rates are low, you're right. It's hard to earn much with a savings account or CD these days.
As "the new frugality," increasing savings rates, and a disdain for debt gain momentum, savers are barely rewarded.
The New York Times proposed that At Tiny Rates, Saving Money Costs Investors. When you account for inflation, your spending power may be eroding. This won't last forever, but it may last a while.
If you've got a large chunk of change that you want to keep safe, it's as important as ever to do some research before depositing to a bank. Look at sites like Bank Deals for institutions offering competitive rates.
While it may seem like banks are weakened (some of them are), these rates are helping them get back in shape. They borrow (pay depositors) at almost no cost and invest (earn interest) at better long-term rates. Some of the income they earn is not from loans to customers - it's from investing in markets. At some point this will have to end, but who knows when?