75 basis cut? kick out this clown and put greenspan back in. by doing this, the market know the fed is running scared. bernanke doesn't know what the hell he is doing.
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you mean the guy that said "we're prepared to throw money out of helicopters if we have to." He said this before he became chairman of course...
Guys feel free to correct that quote but I think it's right no!
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I'm about to get a mortgage in the next 2 months so I'm foaming at the mouth over this news.... waiting for the residential mortgages to bottom out.Comment -
The Fed did what they had to do. May have avoided a world crisis. Not to mention a 1000 drop in the Dow that would have sent panic waves around the world.
Amazing how selfish people get when it comes to their money. Couldn't care less if the whole world went down, as long as they had a few thousand more.Comment -
delaying the bloodshed
shit will hit the fan anywayComment -
I think anyone who runs the fed should be given a 5 year training class from greenspan. Dude was more powerful thant he US presidents he worked under.Comment -
The Fed's action was approved on an 8-1 vote with William Poole, president of the Fed's regional bank, dissenting. The statement said that Poole objected because he did not believe current conditions justified a rate move before the Fed's meeting next week.
Poole is the only person who has balls in that room. Wait til the recession comes and the Fed Fund rate is already at 0%. Way too mnay speculators in the market right now. People are still waiting for the bottom...we're going there sooner or later, and this is going to get much much more uglier.Comment -
Did anyone see all the fed loving financial talking heads on tv today?
Isn't it pathetic to see grown men who are put on the financial guru pedastals in this country try to justify the way our economy has been run saying it's a wise way since the fed was put in place almost 100 years ago?
You could see allot of them were quivering today and in denial that things have finally come undone and there is no way out now for them.No matter what move Bush and the fed makes,they are goners.
It's like having the NY Rangers -1.5 and also having the under 5.5 and the score is tied 2-2.If you lower interest rates,there goes the dollar,if you raise them,you stop artificial,the false economy economic expansion.I hate that bet is lost before the game is over scenario where no matter what happens you lose.Stymied!
All the talking heads on financial news tv are nothing but cheerleaders looking out for their own interests by perpetrating the hoax that we have a sound economy and currency situation with the fed.Do you ever hear the talking heads talk about what termoil the weak dollar has caused the average people in this country?Do you ever hear them say what the stock market indeces are in current dollar value as compared to a few years ago?Dow 12K sounds good but it's really Dow 7K if you take into consideration the puny dollar.Comment -
They are a bunch of dummies.Comment
