|
Air
America Radio |
 |
|
|
|
|
Head-On
Radio Network |
|
|
|
|
|
Search
dubyaD40.com |
|
|
|
|
|
Ads by
The Google |
|
|
|
|
Take
Action |
|
|
|
|
|
|
Recent
Posts |
|
|
|
|
|
Archives |
|
|
|
|
|
Today's
Reason To Drink |
|
|
|
|
|
Want to
link to us? |
|
It's easy to do. Right click on the image
below and choose "Copy." Then paste it on
your site.
|
|
| |
|
Blogroll |
|
|
|
| |
| |
| |
| |
|
|
Today's
Topics |
|
| |
|
Wednesday, October 8, 2008
|
Bout time
posted by
Dookie The Webmaster
6:08 AM
Fed: Emergency cut
The Federal Reserve, working in coordination with other central banks worldwide, enacted an emergency interest rate cut on Wednesday.
The Fed lowered its fed funds rate by half of a percentage point to 1.5%. The central bank's statement said the move was necessary because of the worsening crisis in global financial markets.
"The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability," the Fed said.
The Fed on Wednesday also reduced its discount rate, the level at which it lends money directly to banks and Wall Street firms, by half of a percentage point to 1.75%.
Loans for everyone!
Permalink
::
2 comments
::
|
|
|
|
|
| |
|
|
|
| |
They can play around with their numbers all they want, but when they let the economy get this far out of hand, something has to give. All these things they're doing - rate cuts, bailouts - are band-aids on a severed limb.
It's going to be painful and the wrong people are going to suffer, but at some point you have to let the economy do what it has to do (collapse) and then build it back from the ground up. If there were any justice, the CEOs who testified in front of Congress this week would be forced to give back their bonuses and spend at least a year in jail. But that'll never happen.
posted by
at 8:11 PM |
|
| |
|
|
|
| |
The U.S. should default on our trillion+ dollar debt to China and hand a couple of 747s full of people over to them and tell them, "these are the guys that did it". Problem solved, justice served.
posted by
at 10:29 PM |
| |
|
| |
|
|
|
|
Headlines
& Comments |
|
|
|
| |
|
|
Store |
|
|
|
| |
| |
|
|
Amazon.com |
|
|
|
| |
|
| |
|
|
|
