Wednesday, December 17, 2008

Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!


The Federal Reserve entered a new era Tuesday, lowering its benchmark interest rate virtually to zero — for the first time in its 95-year history — and declaring that it will now fight the recession by pumping out vast amounts of money to businesses and consumers through an expanding array of new programs.

2 comments:

Malcolm said...

My theory is that they're doing this to avoid the explosion of the Alt loans.
.
If we can keep that problem from exploding, we might save this thing.

Robbert said...

I completely agree with Malcolm, they are really doing this to avoid the explosion of the alt loans.


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