Sunday: Fed lowers the discount rate another quarter point!!!

[DateDoc]

The Federal Reserve on Sunday cut the rate on direct loans to commercial banks by a quarter-point and said it will allow primary dealers to borrow at the rate in exchange for a broad range of investment-grade collateral.

This and the JP Morgan buyout of Bear Stearns was completed today because they wanted it done before the Asian Markets opened Monday morning in an attempt to ease further worldwide financial woes.

[DateDoc]

http://online.wsj.com/article/SB1205...ecial_coverage

[farkedup]

hmmm... refinance the house now or wait for the NEXT fed cut

[pocketkangaroo]

Originally Posted by farkedup

hmmm... refinance the house now or wait for the NEXT fed cut

Mortgage rates have actually gone up over the past few months.

These fed cuts are getting ridiculous. They obviously don't give two shits about the average person who is going to have to deal with inflation. Just as long as their rich bank buddies can get money cheap.

[DateDoc]

Originally Posted by farkedup

hmmm... refinance the house now or wait for the NEXT fed cut

Rumors are they cut it a 1/4 today as they did not want to cut it a full point on tuesday. So, if the rumors are true, wait until after tuesday when they cut it another 3/4 point.

[L-Pink]

How does a buyout at 98.8 percent discount of its book value as of Feb. 29. prevent a spreading crisis of confidence in the global financial system? WTF?

[DateDoc]

Originally Posted by L-Pink

How does a buyout at 98.8 percent discount of its book value as of Feb. 29. prevent a spreading crisis of confidence in the global financial system? WTF?

Australian markets are down 2.5-3.0%
Hong Kong's Market is down 5%
Japanese Market is down 4.2%

Might have helped ease the market loss but will not prevent it.

http://money.cnn.com/data/world_markets/

[Furious_Male]

The BSC buy under is going to cause an avalance of margin calls. This is going to get ugly. Not to mention all the 401ks etc. invested in BSC.

Here are some of the big holders

TOP INSTITUTIONAL HOLDERS

Holder Shares % Out Value* Reported
BARROW, HANLEY MEWHINNEY & STRAUSS, INC. 11,485,058 9.73 $1,013,556,368 31-Dec-07
MORGAN STANLEY 6,335,729 5.37 $559,128,084 31-Dec-07
Legg Mason Capital Management, Inc. 5,721,010 4.84 $504,879,132 31-Dec-07
PRIVATE CAPITAL MANAGEMENT, INC. 5,541,259 4.69 $489,016,106 31-Dec-07
Barclays Global Investors UK Holdings Ltd 4,245,451 3.60 $374,661,050 31-Dec-07
STATE STREET CORPORATION 3,550,715 3.01 $313,350,598 31-Dec-07
VANGUARD GROUP, INC. (THE) 3,149,691 2.67 $277,960,230 31-Dec-07
JANUS CAPITAL MANAGEMENT, LLC 2,765,699 2.34 $244,072,936 31-Dec-07
FMR LLC 2,359,011 2.00 $208,182,720 31-Dec-07
PUTNAM INVESTMENT MANAGEMENT, LLC 2,242,980 1.90 $197,942,985 31-Dec-07


TOP MUTUAL FUND HOLDERS

Holder Shares % Out Value* Reported
VANGUARD/WINDSOR II 8,358,352 7.08 $949,508,787 31-Oct-07
PUTNAM FUND FOR GROWTH AND INCOME 2,350,605 1.99 $267,028,728 31-Oct-07
LEGG MASON VALUE TRUST 1,600,000 1.35 $196,496,000 30-Sep-07
JANUS TWENTY FUND 1,496,429 1.27 $132,059,859 31-Dec-07
VANGUARD 500 INDEX FUND 1,100,046 .93 $135,096,649 30-Sep-07
PUTNAM VOYAGER FUND 965,300 .82 $109,658,080 31-Oct-07
American Beacon Large Cap Value Fd 862,450 .73 $97,974,320 31-Oct-07
PUTNAM INVESTORS FUND 742,700 .63 $84,370,720 31-Oct-07
VANGUARD TOTAL STOCK MARKET INDEX FUND 702,594 .59 $86,285,569 30-Sep-07
COLLEGE RETIREMENT EQUITIES FUND-STOCK ACCOUNT 696,560 .59 $85,544,533 30-Sep-07

[L-Pink]

Originally Posted by L-Pink

How does a buyout at 98.8 percent discount of its book value as of Feb. 29. prevent a spreading crisis of confidence in the global financial system? WTF?

Originally Posted by DateDoc

Australian markets are down 2.5-3.0%
Hong Kong's Market is down 5%
Japanese Market is down 4.2%

Might have helped ease the market loss but will not prevent it.

http://money.cnn.com/data/world_markets/

Using the same logic how would selling a $1,000,000. dollar home for $12,000. instill confidence in your neighborhood property values?


.

[DateDoc]

Originally Posted by L-Pink

Using the same logic how would buying a $1,000,000. dollar home for $12,000. instill confidence in your neighborhood property values?

The "million dollar home" was not worth a million dollars so it sold for a lot less. What happened should be criminal and I hope their is an investigation.

[tony286]

watching cnbc the Asian markets dont look good.

[farkedup]

using yahoo finance the lowest 30 year in my area for 110k is 6.375

might not be worth refinancing quite yet for me... might try to bump it up a good amount for paying off other shit.

[DateDoc]

Originally Posted by tony404

watching cnbc the Asian markets dont look good.

down 2-4% looking at the different indexes so they are doing better than a few hours ago.

[DateDoc]

Nikkei: down 3%
Hang Send Index: down just over 5%

Dow: down 0.52%
Nasdaq: down 1.42%

[gleem]

This is the first VERY obvious step by the fed to cause a full on depression era crash so they and other uber elite "international investment groups" like the carlisle group can buy up a ton of investment firms and banks for pennies on the dollar, same thing that happened in the great depression.

The Federal Reserve is not a governement institution, they are not elected, they are a private banking firm that the US government has no control over and there is no stopping them from deflating our currency so they can bring on the "Amero" which is the new currency they want. do the research, you will shit yourself.