by taking aim at the real problem...the insurers! Cut rates all you want the banks are not lending out the coin,why because they are afraid their insurers will not be able to meet their current obligations so therefore they will not add to the problem with writing more loans. Bush leagues stimulus plan to put dollars in the average pocket amounts to a hill of beans,first they need to print the money to give out and once it is out to the avg joe what good would it do when the money is given back to big oil or retail or some other service. Problem underpinning this market is one of confidence from the banking sector to their insurers. Bush plans 150 billion,why not go 250 bln and buy the insurers book of biz,guarantee .50 on the dollar for bad debt and clean the slate. This would allow the banks to get a fresh start and lend money,this ends the credit crunch and adds confidence ,now the rate cut would make sense too. My two cents fwiw. Lloyd
'saw Bush on TV at some DC school today (eeriely reminscent of him at that school when the towers were falling) " reminded me also of that day when he continued trying to read that pre-school book ...unbeleivable,again...never ceases to amaze me...Who's in charge of this country anyway right now??? Can somebody say we need a leader?
Correction...that would be the end of the global financial system. Why does everyone think our government has a blank check???
ET majority agrees that there won't be an emergency cut. If no cut than what? Could the banks around the world announce some sort of joint initiative to fight the financial crisis?
do you fucking guys hung long feel you are ENTITLED for a cut? You are the same guys on a 5/2 ARM getting castrated right about now? The smart money has been short and getting ready to cover 1/2...We are in a bear mkt, sell rallies..or find stocktrad3r to sooth you
Looks like Fed decided to surprise 90% Elite Traders after checking out the poll. Yes, Before Market Open >50pts 14 10.77% Yes, Before Market Open 50pts 22 16.92% Yes, During Market Hours 50pts or more 11 8.46% Yes, During Market Hours 25 pts 0 0% No Cut Tomorrow 83 63.85% Total: 130 votes 100%