Fed Cuts Discount Rate
August 18, 2007
The Federal Reserve reduced the rate it charges banks who want to borrow from it, saying financial market conditions have deteriorated, and tighter credit and increased uncertainty have the potential to hinder economic growth.
The Bleeding has stopped for now.
Bleeding…
August 16, 2007
My portfolio is bleeding thanks to the emotional panicky lot we call Wall Street.
Cramer Meltdown – Screams for the Feds to cut rates
August 10, 2007
Market Crash
August 10, 2007
According to an article on Money other markets around the world was affected by the crash here yesterday:
The problems in the U.S. markets mirrored heavy selling in Asia and Europe that obliged central banks in Japan, Australia and Europe to inject cash to keep their banking systems operating smoothly.
Oh yeah and the Feds have stepped in to help:
The Federal Reserve offers $38 billion in assistance to prevent the credit markets from seizing up. But stocks tumble after news of growing problems facing Countrywide Financial and Washington Mutual. The SEC is probing Wall Street banks for hidden subprime losses.
