GoFuckYourself.com - Adult Webmaster Forum - View Single Post - I want to vote for Obama.... BUT.........

Lane · 10-06-2008, 04:34 PM

FED lowered interest rates down to 1% (June 25, 2003)
link: http://www.federalreserve.gov/fomc/fundsrate.htm

FED chairman told people to get into adjustable rate mortgages (Feb 23, 2004)
link: http://www.usatoday.com/money/econom...pan-debt_x.htm

FED increased the interest rates by 4.25% over the next 3 years. (June 29, 2006)
link (same as above): http://www.federalreserve.gov/fomc/fundsrate.htm

3 year ARMs adjust, peoples mortgage payments go thru the roof, and market is flooded with foreclosure homes, which not only bursts the bubble but also accelerates the whole downward spiral that follows.

Seriously, is there anything else that had a bigger influence on creating this mess than the market manipulation done by the FED?

10-06-2008, 04:34 PM
Lane Will code for food... Join Date: Apr 2001 Location: Buckeye, AZ Posts: 8,496	FED lowered interest rates down to 1% (June 25, 2003) link: http://www.federalreserve.gov/fomc/fundsrate.htm FED chairman told people to get into adjustable rate mortgages (Feb 23, 2004) link: http://www.usatoday.com/money/econom...pan-debt_x.htm FED increased the interest rates by 4.25% over the next 3 years. (June 29, 2006) link (same as above): http://www.federalreserve.gov/fomc/fundsrate.htm 3 year ARMs adjust, peoples mortgage payments go thru the roof, and market is flooded with foreclosure homes, which not only bursts the bubble but also accelerates the whole downward spiral that follows. Seriously, is there anything else that had a bigger influence on creating this mess than the market manipulation done by the FED? __________________