Gothamist: Fed, Central Banks Announce Emergency Rate Cut

Shinobi Shaw

Wed, 08 Oct 2008 18:30:20 -0500

If that is true #28, UNREAL!

bagelman

Wed, 08 Oct 2008 17:25:19 -0500

Just read an article about a possible SECOND BAILOUT! Are they SERIOUS? How much more until we say enough is enough? ---------------- DENVER - House Speaker Nancy Pelosi said Wednesday that a $150 billion economic stimulus plan is needed now because of the faltering economy and she may call the House into session after the election to pass it. http://news.yahoo.com/s/ap/20081008/ap_on_go_co/meltdown_pelosi

Leon Freilich

Wed, 08 Oct 2008 13:54:30 -0500

BANISH PANIC Keep your composure Do not curse Live for the moment Gonna get worse

Shinobi Shaw

Wed, 08 Oct 2008 13:51:08 -0500

#22 you don't just make that statement with no backing argument, WHY do you believe that is so? During the last days of the Weimar Republic (the most free republic in Europe at the time) there was a staggering and massive inflation and near edge of an economic collapse. What followed it was of course Nazi Germany. A fitting comparison I might add.

bagelman

Wed, 08 Oct 2008 11:57:40 -0500

so, umm, does anybody want to place some bets, credit default swap style, about the DOW going below 9000 in the coming day(s) ?

Felix Hoenikker

Wed, 08 Oct 2008 10:59:27 -0500

20 "I hope the unavailability of credit, no matter how important it is to the economy, will force Americans to start actually living within their means and not borrow to the point of no return." Great idea that, except for our federal government that can't/won't do the same and creates extra credit at its whim.

gossipgirl

Wed, 08 Oct 2008 10:57:11 -0500

@ EastRiver It certainly wouldn't be the first time that someone took a Presidential's candidates word as truth. @ ANGRYGOD11 absolutely.

Politburo

Wed, 08 Oct 2008 10:51:11 -0500

"A lot of people are indeed comparing the US right now to the last days of the Weimar Republic" A ridiculous comparison to anyone who has any knowledge of history. I don't even know where to begin.

fugothamist

Wed, 08 Oct 2008 10:43:27 -0500

but i want a bigger house and a fourth car its my right as an american

Kojak

Wed, 08 Oct 2008 10:40:33 -0500

I hope the unavailability of credit, no matter how important it is to the economy, will force Americans to start actually living within their means and not borrow to the point of no return. Average Americans share some of the blame to whats going on here, even if a lot of them are too dumb to realize that buying a house on an adjustable rate mortgage that you can barely afford is not the brightest thing to do. And banks shame on you for taking advantage of people who don't know any better.

ANGRYGOD11

Wed, 08 Oct 2008 10:37:21 -0500

Sure, spending has exploded under the Bush Administration but the policies that led to this downfall are not part and parcel W. However, George W was elected President with a sitting Republican majority in the Senate, House and the federals courts. Policies could/should have been changed under their watch.

Shinobi Shaw

Wed, 08 Oct 2008 10:34:49 -0500

A lot of people are indeed comparing the US right now to the last days of the Weimar Republic, but of course we all know what came after that!

Politburo

Wed, 08 Oct 2008 10:34:21 -0500

There is no legal mechanism to recoup the monies paid to Wall St. employees.

EastRiver

Wed, 08 Oct 2008 10:32:08 -0500

Hey gossipgirl, go back to my post at #5 and turn on your sarcasm detector.

fugothamist

Wed, 08 Oct 2008 10:30:21 -0500

a think a few of you didn't get the sarcasm in EastRiver's comment... although Obama is stressing the last 8 years for obvious political points, he has acknowledged that it started further back, and said as much during the primaries. i trust is economic team to get us through this

fugothamist

Wed, 08 Oct 2008 10:25:08 -0500

lets get this money back also: http://www.financialpost.com/most_popular/story.html?id=866284

NannyState

Wed, 08 Oct 2008 10:24:05 -0500

Low rates + high risk = Depression.

gossipgirl

Wed, 08 Oct 2008 10:24:04 -0500

@ EastRiver Just because Obama said it doesn't mean it's true...if you listen to almost any economist they would say the problems started in the 90's during the Clinton Administration. Sure, spending has exploded under the Bush Administration but the policies that led to this downfall are not part and parcel W.

EastRiver

Wed, 08 Oct 2008 10:14:54 -0500

EastRiver --- Naive much? Hope you enjoy eating "Obama burgers" for the next 4 years. I have no idea what you're getting at. We should have the oil companies bail Wall Street out. Yes, take money from the people that actually produce a tangible product that we use in our every day lives. I have a better idea. Take the money back from the underwriters, traders, and raters of the crap paper they were selling all over the world. The salaries and bonuses were based on "profits" that resulted from valuations that had no grounding in reality. And I don't mean go after the companies only. Go after the people that actually walked off with the money.

Buck Owens

Wed, 08 Oct 2008 10:06:35 -0500

We should have the oil companies bail Wall Street out.

NYCSniper

Wed, 08 Oct 2008 09:52:16 -0500

EastRiver --- Naive much? Hope you enjoy eating "Obama burgers" for the next 4 years.

NannyState

Wed, 08 Oct 2008 09:50:26 -0500

Japan 1990 over at the Fed: -.25%, anybody?

fugothamist

Wed, 08 Oct 2008 09:37:50 -0500

cant wait for McSame to buy my bad mortagages, i have plenty!

fugothamist

Wed, 08 Oct 2008 09:35:34 -0500

i'm gonna go out and get a 5% down interest-only mortgage for a great condo in canarsie! that area is the next big thing!

EastRiver

Wed, 08 Oct 2008 09:34:26 -0500

Chips, if you watched the debate last night you would have learned from Obama that this is simply an issue of the Federal budget deficit and eight years of George Bush. It's just that simple!

Bottomless Chips

Wed, 08 Oct 2008 09:22:09 -0500

Wow. So we're going to continue with the mistake that got us into this? Artificially low interest rates which causes increased speculation through easy money? I'll see you all at the ________ Crisis of 2011!

longacre

Wed, 08 Oct 2008 09:09:05 -0500

And despite this, the S&P, Nasdaq and Dow futures are still showing they will make significant drops at the market open in 20 mins. Wheee!

Felix Hoenikker

Wed, 08 Oct 2008 08:58:59 -0500

How long until the Fed pays the banks to take their money?

babyhitler

Wed, 08 Oct 2008 08:57:00 -0500

keep the speculation alive people.