Fed is expected to cut interest rate to 2.25% : Wall Street Journal

Looks like the bandaid worked...for now. Wonder what they'll do when lehman rolls over in the next few weeks...

Rearranging deck chairs on the titanic is how I see it, but then again I am no expert. I just know what I see in the local news and what I see in my neighborhood and surrounding towns and I live outside DC. If it's happening in one of the strongest microcosm economies in the country then I can imagine what's happening everywhere else. The MSM is not reporting most of those numbers and the government no doubt is scurrying to hide the truth until they can come up with a stopgap.

Originally posted by mybigunit
reply to post by Rockpuck

 

Sue because all last week the CEO was on TV talking about how everything was fine meanwhile the stock was tanking. What the CEO did was illegal and I hope he gets punished. Yes lawsuits will be flying and legitimately so.

Its the same crap Enron pulled before they went under their propaganda machines where telling the little people everything is fine meanwhile the big boys were getting the hell out.

Hope that answers your question.

Oh wait I just read the whole thread sense some sarcasm

[edit on 17-3-2008 by mybigunit]

Do you know anything about the markets? Wall Street or the economy? He very well could have been right. What happened in the last 48 hours of BSC existence might have been avoided. The street decided that Bear was going down and they did. Traders walked away from counter-party transactions and created panic scenarios in BSC markets. People were getting a better grip on what BSC had on their books and no one took the other side of their trades. This was a liquidity run. On wall street liquidity is the name of the game. You people can all go quote # on Wikipedia, but I lived this kind of stuff for 9 yeras before I retired into risk management. Thanks to a friend I was able to be on the conference call sunday afternoon and heard first hand what was going on. No, I am not going into details. Put simply......The street wanted a fall guy, the street wanted blood. BSC was the perfect example and the FED made an example of them. I don;t like the bail out and I don;t want ANY MORE DAMN RATE CUTS. Its time to start letting these banks fail and letting the markets work. I am sick and tired of hearing people from all over the world bad mouthing our economy and markets. When the US sneezes the wrold catches a cold. So far in 2008, our markets have performed a lot better than most of the major markets out there, except Brazil; and thats taking into account currency translations to boot. Right now the US is exporting 1 product and 1 product only, the recession........get used to it it will spread every where. Unfortunately, since we are not yet defending the damn dollar, we are importing your inflation. Give us 6 months and we will straighten this out. Once the dollar is defended we will see a lowering price of oil, Bush should then respond with the opening of the petroleum reserves, a double whammy for the middle eastern countries.

Lets hear all you big mouths then.

Long live the US.

Originally posted by Rockpuck
reply to post by Escrotumus

 

Every index is down .5 to 1% .. and the DOW is up .8% ..

Unusual.

Not unusual at all. The Dow is a representation of only 30 stocks, the supposed best of the best. When there is blood in the streets it time to buy, What do you buy? The best of the best! JP Morgan was a big part of that, mostly all of it.

i personally think the Federal Reserve will cut the rate to 2%
or a full 100 basis points.

?why? ... because there exists a 'Plunge Protection Team'....

and their mission is to assist the stock market from any sudden and
sustained plunge - market crash.

?why? ... because there also exists a 'Plunge the Dollar Team'

and that cadre of globalists is causing the world's valuation of the Dollar
to contract.... possibly to a $ .40 cent valuation,
and every rate reduction the Fed makes, the rest of the world
reacts --- two measures of this devaluation of the dollar is seen in
Oil and Gold valuations.... the later decoupling and pegs with the $ will follow.



now these two 'teams' work to increase thevaluation of the stock market
but at a equal rate with the value of the dollar going down... is their objective.
and that situation will keep US markets desirable and also attract investment by 'Soverign Wealth Funds' and the like,

all the while the US trade balance and debt is reduced by the devaluation of the USD.
~its like walking a tightrope ~ but so far, the Fed is crossing the Rubicon
on that highwire act

420 points up today but I'm sure by this time next week we will have lost that entire 420 points again like we have for the past 2 months with this see-saw. So much volatility and up and down yo yo action. It sure would be nice if those banks would pass those low low rates on to us. I would like to refi out of my ARM this year, assuming at this point that I haven't lost all value in my home and actually am able to refi....

Well, after the rate cute finally came through they reported that these rate cuts are not expected to be passed on to the consumer. It is for the banks to have a larger profit margin.

so don't anyone thing mortgage rates or anything is going down. this rate cut was not for the consumer, but yet another bonus to the banking industry.

Raped again.