Fed cuts discount rate by 50 basis point.

[LA_Renter]

It appears the Fed is trying to restore some sort of order here. The root cause of all these problems are bad mortgages which resulted from ridiculously low rates and literally no underwritng, the Fed recognizes this. I don’t think they see the Fed Funds rate as being too high. I imagine the market will price in a pretty steep Fed Funds rate cut, I don’t think that is going to happen and in the face of a structurally weak dollar I still think it would be a mistake. IMO they need to send the message that they will not bail lenders out of the bad loans and poor practices. This latest action was not a bail out and was probably the right move.

[GoUSC]

I agree LA. I think they just want to keep the system functioning. Not fix it. We will see what happens… DJIA is off its opening high already….We’ll see how the day goes.

[GoUSC]

I agree LA. I think they just want to keep the system functioning. Not fix it. We will see what happens… DJIA is off its opening high already….We’ll see how the day goes.

[GoUSC]

I agree LA. I think they just want to keep the system functioning. Not fix it. We will see what happens… DJIA is off its opening high already….We’ll see how the day goes.

[Coronita]

Yeah, that might not be a bad idea. The bulls aren't back in charge, but they're probably back to even at this point.

 

Loaded up on EWJ just now. Hoping a 5% drop last night was enough for a dead cat bounce on monday…

 

[Coronita]

Yeah, that might not be a bad idea. The bulls aren't back in charge, but they're probably back to even at this point.

 

Loaded up on EWJ just now. Hoping a 5% drop last night was enough for a dead cat bounce on monday…

 

[Coronita]

Yeah, that might not be a bad idea. The bulls aren't back in charge, but they're probably back to even at this point.

 

Loaded up on EWJ just now. Hoping a 5% drop last night was enough for a dead cat bounce on monday…

 

[JES]

I think today will be the day that ‘the Dow was up more than 300 points at one time, but finished down XXX’.

[JES]

I think today will be the day that ‘the Dow was up more than 300 points at one time, but finished down XXX’.

[JES]

I think today will be the day that ‘the Dow was up more than 300 points at one time, but finished down XXX’.

[bsrsharma]

Bernake is an idiot.

One of the FED governors had promised to cut the rate if there is a "Calamity". Run on Countrywide (and I read a bit on ETRADE too) was a "Calamity". Having seen S&L, I agree with him that a run on a major  bank is a Calamity.

[bsrsharma]

Bernake is an idiot.

One of the FED governors had promised to cut the rate if there is a "Calamity". Run on Countrywide (and I read a bit on ETRADE too) was a "Calamity". Having seen S&L, I agree with him that a run on a major  bank is a Calamity.

[bsrsharma]

Bernake is an idiot.

One of the FED governors had promised to cut the rate if there is a "Calamity". Run on Countrywide (and I read a bit on ETRADE too) was a "Calamity". Having seen S&L, I agree with him that a run on a major  bank is a Calamity.

[Coronita]

I think today will be the day that 'the Dow was up more than 300 points at one time, but finished down XXX'.

 

Lol.. I tend to agree. But maybe down XX. 

[Coronita]

I think today will be the day that 'the Dow was up more than 300 points at one time, but finished down XXX'.

 

Lol.. I tend to agree. But maybe down XX. 

[Author]

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