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    Fed slashes rates to boost economy

    Fed cuts rates by*a*half*point - Sep. 18, 2007

    The Federal Reserve lowers the target on a key short-term interest rate for the first time in four years to 4.75% from 5.25%.

    The Federal Reserve cuts by one-half percent the federal funds rate, a rate that heavily impacts how much interest consumers pay on debts including credit cards and auto loans. The rate cut could help some beleaguered home borrowers who are set to see monthly payments rise later this year.



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    Re: Fed slashes rates to boost economy

    I just hope they stay somewhat conservative, because otherwise we are just delaying the inevitable. As far as I am concerned, funds that invested in high risk, deserve to take the results of the high risk, right along with the profits.



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    Re: Fed slashes rates to boost economy

    High risk - Countrywide.


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

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    Re: Fed slashes rates to boost economy

    Quote Originally Posted by Cyclonepride View Post
    I just hope they stay somewhat conservative, because otherwise we are just delaying the inevitable. As far as I am concerned, funds that invested in high risk, deserve to take the results of the high risk, right along with the profits.
    What exactly does that have to do with the Fed lowering rates? Not much


    As far as depth goes though, the combination of White, Woodbury, Olaseni, Basabe, and Uthoff is much better than Niang, Ejim, Edozie, Gibson. Not because of the top 2, but because of the next 2 or 3. -DeanVogs

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    Re: Fed slashes rates to boost economy

    I was disappointed with the rate cut. The economy is doing well and the PPI number that came out today was just an illusion and will go back up next month. The reason the PPI number dropped because the data used had oil prices fall almost $10 / barrel and since that data came out Oil has climbed back up to a new record high today

    If people were stupid enough to get an adjustable loan, then they deserve to suffer. I hope Bernake is smart enough to realize he made a mistake and start bring the fed rate back up in 6 weeks.



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    Re: Fed slashes rates to boost economy

    Quote Originally Posted by jmb View Post
    What exactly does that have to do with the Fed lowering rates? Not much
    Really? High risk mortgages are usually variable rate from prime. The rate that the Fed cut today directly affects the prime rate. So, yeah, much.



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    Re: Fed slashes rates to boost economy

    We need the government to bail out those poor souls who signed up for these bad loans. I mean they did not know what they were doing. We cannot have people doing crazy things like being personally responsible. That is what our almigthy overloards are for, to take care of us, help us make our house payments, and give us a nice block of cheese every week.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Fed slashes rates to boost economy

    Quote Originally Posted by brianhos View Post
    We need the government to bail out those poor souls who signed up for these bad loans. I mean they did not know what they were doing. We cannot have people doing crazy things like being personally responsible. That is what our almigthy overloards are for, to take care of us, help us make our house payments, and give us a nice block of cheese every week.
    You get cheese? Now I'm pi$$ed!



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    Re: Fed slashes rates to boost economy

    As we all know this comes down to subprime lending. Lots of people were getting money, lots of money that they should not have been getting. These loans were then sold and used as backup for other investments. The risk ended up being spread across all lines of business throughout the US and the world because of hedge funds and other securities.

    Any moron should have seen this coming. I saw it a long time ago and if I could see it, surely others could! I do not like seeing people being bailed out now by rate cuts for ARM's and the federal government now guaranteeing loans that could be going to a default status. There needs to be a good shaking out in the economy, just like there was with the stock market after the 1990's boom.



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    Re: Fed slashes rates to boost economy

    Quote Originally Posted by Cyclonepride View Post
    Really? High risk mortgages are usually variable rate from prime. The rate that the Fed cut today directly affects the prime rate. So, yeah, much.
    so are we talking about high risk mortgages, or are we discussing other high risk investments. Much of the 50bps cut had been already priced into the market, as was noticed by the run up in the market pre-annoucement. So while it may positivley impact the sub-prime market, and provide some liquidity to the market...as well as confidence it really is a questionable. Futhermore; if we were really concerned about the sub-prime market we had many chances to effecutuate underwriting and eligibility standards for these type of loans.


    Tell me what was the growth of the economy this year in the first several quarters? Is this really a good move when we are seeing the kind of growth that we have the last 24 months? I rather think that this is merely a feel good move for the markets
    j


    As far as depth goes though, the combination of White, Woodbury, Olaseni, Basabe, and Uthoff is much better than Niang, Ejim, Edozie, Gibson. Not because of the top 2, but because of the next 2 or 3. -DeanVogs

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    Re: Fed slashes rates to boost economy

    Quote Originally Posted by Cyclonepride View Post
    You get cheese? Now I'm pi$$ed!
    Yeah, me too, I didn't get crap. As a matter of fact when I looked a home loan a few year back and saw the b.s. pilling on it so fast - I cut and ran. Shouldn't I get two blocks of cheese



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    Re: Fed slashes rates to boost economy

    Quote Originally Posted by ISUKyro View Post
    Yeah, me too, I didn't get crap. As a matter of fact when I looked a home loan a few year back and saw the b.s. pilling on it so fast - I cut and ran. Shouldn't I get two blocks of cheese
    nope you took personal responsibilty seriously as such you should be taxed twice


    As far as depth goes though, the combination of White, Woodbury, Olaseni, Basabe, and Uthoff is much better than Niang, Ejim, Edozie, Gibson. Not because of the top 2, but because of the next 2 or 3. -DeanVogs

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    Re: Fed slashes rates to boost economy

    Quote Originally Posted by jmb View Post
    nope you took personal responsibilty seriously as such you should be taxed twice
    ahhh crap - ok, don't tell anyone



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    Re: Fed slashes rates to boost economy

    http://www.ftportfolios.com/Commenta...cent_in_August

    See, rate cut BAD.... Economy ok.



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    Re: Fed slashes rates to boost economy

    Quote Originally Posted by jmb View Post
    so are we talking about high risk mortgages, or are we discussing other high risk investments. Much of the 50bps cut had been already priced into the market, as was noticed by the run up in the market pre-annoucement. So while it may positivley impact the sub-prime market, and provide some liquidity to the market...as well as confidence it really is a questionable. Futhermore; if we were really concerned about the sub-prime market we had many chances to effecutuate underwriting and eligibility standards for these type of loans.


    Tell me what was the growth of the economy this year in the first several quarters? Is this really a good move when we are seeing the kind of growth that we have the last 24 months? I rather think that this is merely a feel good move for the markets
    j
    No, I think it is really a bad move. All the experts (and I'm not one) that I've heard talking about it seem to think that we need to take our medicine now, rather than come up with a lot of bail-outs and other things. Sounds like the House is trying to move a bill through right now to provide FHA backing for a lot of bad loans. Isn't that just like our government? Allow something bad to happen, then jump in and pour some good old tax payer money in to fix the problem.



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