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Ford chief urges Fed action (Emaciated corpses litter streets!)
http://money.cnn.com/2007/08/24/news/companies/ford_fed/index.htm?postversion=2007082406 ^ | 8-24-07

Posted on 08/24/2007 5:35:44 AM PDT by Hydroshock

NEW YORK (CNNMoney.com) -- Ford CEO Alan Mulally became the latest high-profile business executive to suggest that the Federal Reserve needs to cut interest rates, according to a report published Friday.

Noting that credit conditions were posing a "big headwind" to the company's turnaround plan, Mulally told the Financial Times he is concerned about the state of the larger economy.

Next victim of mortgage mess: Auto sales Video More video

Fortune's Sue Callaway reviews and compares the Audi S4 and the BMW M5. Play video

"It is a really important job to manage inflation and economic growth [but] focusing on economic growth appears to be a really important priority now," Mulally told the paper, hinting that the central bank needs to take action.

The Federal Reserve, which works to keep inflation in check and promote economic growth, has resisted calls to lower the federal funds rate from its current level of 5.25 percent.

The key interest rate, which has remained unchanged since June 2006, directly impacts consumer loan rates on everything from credit cards to auto loans.

(Excerpt) Read more at money.cnn.com ...


TOPICS:
KEYWORDS: alasandalack; applesonly5cents; automotive; autosales; breadlines; credit; depression; despair; doom; dustbowl; fed; fordmotor; grapesofwrath; hoovervilles; soupkitchens; vulturegram; woeisme
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To: RockinRight
As someone who has had the privilege of being one of your clients, I can honestly say that you are both competent and ethical. I'm glad you were there when we refinanced.

I'm also glad it's only 8 days, 3 hours and 9 minutes until the RockinRight/Hoodlum Wedding Extravaganza!

Hang in there, Hon.

161 posted on 08/24/2007 11:23:41 AM PDT by Chanticleer (Courage is not simply one of the virtues but the form of every virtue at the testing point. Lewis)
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To: RockinRight
I’m just asking how a trial lawyer is more of a “real job” than a mortgage banker or loan officer is.

THIS should be fun to watch. LOL

162 posted on 08/24/2007 11:24:49 AM PDT by Petronski (Why would Romney lie about Ronald Reagan's record?)
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To: Iwo Jima; RockinRight
Wow! RockinRight is responsible for the housing bubble. Sheesh! Who knew?

And he seemed like such a nice boy.

163 posted on 08/24/2007 11:25:23 AM PDT by Chanticleer (Courage is not simply one of the virtues but the form of every virtue at the testing point. Lewis)
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To: Hydroshock
Since late 2006 137 major U.S. lenders have “imploded”

You have extravagant and surreal definitions of "major" and "imploded."

164 posted on 08/24/2007 11:29:15 AM PDT by Petronski (Why would Romney lie about Ronald Reagan's record?)
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To: RockinRight
A real job?

Real estate prices were flat in most of the country from 1989 to 1999. Thats what you probably have to look forward to..

But dont worry, there are other up and coming jobs that will be in great demand in the coming years.. For example..Tattoo Removal Artist.. Now theres a proffession with a LOT of potential clients!

165 posted on 08/24/2007 11:34:31 AM PDT by Nonstatist
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To: Nonstatist

Hey, d*ck head. I have a college degree, 8 years experience in lending, and many skills.

I’m not one of these guys that went straight from burger flipping to loan origination at some “Boiler-room” type shop.

While I may in the future look to a different line of work, Tattoo Removal isn’t what I’m thinking.


166 posted on 08/24/2007 11:37:20 AM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: Nonstatist
But dont worry, there are other up and coming jobs that will be in great demand in the coming years.. For example..Tattoo Removal Artist.. Now theres a proffession with a LOT of potential clients!

Copy editor looks promising.

167 posted on 08/24/2007 11:38:18 AM PDT by Chanticleer (Courage is not simply one of the virtues but the form of every virtue at the testing point. Lewis)
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To: RockinRight

This thread is developing the stench of witch trials.


168 posted on 08/24/2007 11:40:10 AM PDT by Petronski (Why would Romney lie about Ronald Reagan's record?)
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To: Petronski; RockinRight

I think RockinRight weighs the same as a duck. Burn him!


169 posted on 08/24/2007 11:42:22 AM PDT by Chanticleer (Courage is not simply one of the virtues but the form of every virtue at the testing point. Lewis)
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To: RockinRight

You wont make as much money only lending to people who can actually pay back their loans. Thats the way it used to be and thats the way its GOING to be , whether you like it or not. We’re all done subsidizing this speculative market in cheap loans..on to something else!


170 posted on 08/24/2007 11:42:27 AM PDT by Nonstatist
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To: Nonstatist

Um...that’s all I’ve ever done. Read my other posts.


171 posted on 08/24/2007 11:46:07 AM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: Chanticleer

I weigh a lot more than a duck.


172 posted on 08/24/2007 11:49:15 AM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: RockinRight

Then seems to me you got nothing to worry about. The people that will lose their shirts should be elsewhere. When one Ponzi scheme goes under, theres always another one somewhere else. Bowling alleys in the 50’s, S&L’s in the 80’s, internet stocks in the 90’s, then real estate, then...? tattoos?


173 posted on 08/24/2007 11:51:28 AM PDT by Nonstatist
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To: RockinRight; Chanticleer

You’re financially ruined because you’ll no longer be able to do what you’ve never done! And you deserve it!


174 posted on 08/24/2007 11:51:41 AM PDT by Petronski (Why would Romney lie about Ronald Reagan's record?)
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Comment #175 Removed by Moderator

To: RockinRight

You were saying?

176 posted on 08/24/2007 11:53:59 AM PDT by Chanticleer (Courage is not simply one of the virtues but the form of every virtue at the testing point. Lewis)
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To: Nonstatist

To be fair, and now that I’m calmed down (my earlier rage was partly due to “oh-sh*t-I’m-getting-married-next-weekend-and-have-so-much-money-to-spend-and-stuff-to-do-jitters”) I think I will do fine.

I’m more concerned about a liquidity crunch totally terminating ALL mortgage transactions.


177 posted on 08/24/2007 11:54:29 AM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: Chanticleer

Sounds like you got a good deal on a lona. No money down and interest only for 10 years?


178 posted on 08/24/2007 11:55:29 AM PDT by Nonstatist
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To: Nonstatist

What’s a “lona?”

Italian for loan??


179 posted on 08/24/2007 11:56:53 AM PDT by RockinRight (Fred Thompson once set fire to a crowd of liberals simply by puffing his cigar and staring real hard)
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To: Nonstatist

Um, no, conventional 30-year fixed rate.


180 posted on 08/24/2007 11:57:04 AM PDT by Chanticleer (Courage is not simply one of the virtues but the form of every virtue at the testing point. Lewis)
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