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Fed Funds Rate Cut .75 Percentage Point to 2.25 Percent
U.S. Federal Reserve ^ | March 18, 2008 | Press Release

Posted on 03/18/2008 11:14:20 AM PDT by Aristotelian

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To: Toddsterpatriot

No, they handed JP Morgan an early Christmas present.


21 posted on 03/18/2008 11:27:16 AM PDT by underground (Viva la Socialisme Wall Street)
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To: Toddsterpatriot
We're doomed!

We're saved!!

22 posted on 03/18/2008 11:29:15 AM PDT by palmer
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To: misterrob

damm happy I have no bills and zero balances on my credit cards...


23 posted on 03/18/2008 11:29:28 AM PDT by xtinct (I was the next door neighbor kid's imaginary friend.)
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To: underground

Exactly.


24 posted on 03/18/2008 11:30:00 AM PDT by Toddsterpatriot (Buy gold!!!!!)
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To: misterrob

No. Recession is unthinkable!


25 posted on 03/18/2008 11:30:09 AM PDT by ichabod1 ("Self defense is not only our right, it is our duty." President Ronald Reagan)
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To: palmer

Did you look at the risk when you sell equity puts short?


26 posted on 03/18/2008 11:30:59 AM PDT by Toddsterpatriot (Buy gold!!!!!)
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To: Aristotelian

Oil on its way up? Looks like it.


27 posted on 03/18/2008 11:31:29 AM PDT by steveyp
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To: underground
Why is everyone so quick to blame The Fed for JPM stealing BSC.

BSC agreed to be bought for $2/share.

28 posted on 03/18/2008 11:31:38 AM PDT by adm5 (McCain = Hillary = B. Hussein Obama)
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To: underground
No, they handed JP Morgan an early Christmas present.

Not if the stockholders have any say about it. Bears-Sterns is up about 30% today to $6.50 or $4.50 more than the JP Morgan deal. I don't see stockholders voting to sell at $2.

29 posted on 03/18/2008 11:31:45 AM PDT by Always Right (Was it over when the Germans bombed Pearl Harbor?)
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To: Toddsterpatriot
Toddsterpatriot (Buy gold!!!!!)

Ruh roh... ANOTHER freeper kidnapped by space aliens...

;-)

30 posted on 03/18/2008 11:33:40 AM PDT by Nervous Tick (I'm not voting FOR John McCain -- I'm voting AGAINST Hillary/Obama)
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To: Aristotelian
This is great news! Or, not...


31 posted on 03/18/2008 11:33:49 AM PDT by GalaxieFiveHundred
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To: adm5
Why is everyone so quick to blame The Fed for JPM stealing BSC. BSC agreed to be bought for $2/share.

I would imagine the Fed had to do some arm-twisting to get BSC board to sell at a 90% discount. There must be some really ugly stuff on their books. The BSC board wanted to avoid jail, IMHO. But the stockholders won't go along.

32 posted on 03/18/2008 11:34:01 AM PDT by Always Right (Was it over when the Germans bombed Pearl Harbor?)
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To: Always Right

I know nothing of this economy stuff but will the prime ever get below 6 or is it disconnec5ted from the other rates?

Just asking


33 posted on 03/18/2008 11:34:41 AM PDT by cajungirl
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To: cajungirl

BAC 37.52, +1.56, +4.3%) said it lowered its prime lending rates to 5.25% from 6%, after the Federal Reserve cut the federal funds rate by 75 basis points. Bank of America said the rates apply to Bank of America NA, LaSalle Bank NA and LaSalle Bank Midwest NA. Other banks are expected to lower their prime lending rates similarly


34 posted on 03/18/2008 11:36:57 AM PDT by Toddsterpatriot (Buy gold!!!!!)
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To: adm5
Why is everyone so quick to blame The Fed for JPM stealing BSC.

That $30 billion non-recourse loan might have something to do with it.

35 posted on 03/18/2008 11:37:00 AM PDT by RegulatorCountry
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To: Nervous Tick
What do you mean? Gold is the only real money.

Did you know that an ounce of gold bought a nice suit during Roman times and it still does today. It's in the Constitution.

36 posted on 03/18/2008 11:38:14 AM PDT by Toddsterpatriot (Buy gold!!!!!)
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To: techworker

I think if you wait two years, you’ll miss the bottom.

Keep your financing options up to date. I’d be ready to move by next spring.


37 posted on 03/18/2008 11:38:46 AM PDT by Timeout
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To: GalaxieFiveHundred

LOL.


38 posted on 03/18/2008 11:40:24 AM PDT by new cruelty
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To: cajungirl
I know nothing of this economy stuff but will the prime ever get below 6 or is it disconnec5ted from the other rates? Just asking

Should go below 6 tomorrow. It seems to track almost perfectly.


39 posted on 03/18/2008 11:41:10 AM PDT by Always Right (Was it over when the Germans bombed Pearl Harbor?)
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To: Always Right

Post 34. Usually moves immediately.


40 posted on 03/18/2008 11:41:45 AM PDT by Toddsterpatriot (Buy gold!!!!!)
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