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Federal Reserve makes emergency rate cut
MSNBC ^ | 01.22.08

Posted on 01/22/2008 5:29:53 AM PST by Perdogg

Federal Reserve makes emergency rate cut.

(Excerpt) Read more at msnbc.msn.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: economy; fed
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To: Perdogg
Helicopter Ben fired a blank, wasting his ammo.

Futures are still -way- down,

Dow Jones -418.00 11688.00 1/22 9:13am

We do not have a liquidity problem, we have a -solvency- problem.

Way too much bad paper floating around and the criminals are still hiding it...

101 posted on 01/22/2008 6:32:29 AM PST by Milwaukee_Guy (Don't hit them between the eyes. Hit them right -in- the eyes!)
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To: RKBA Democrat

3.76% drop.


102 posted on 01/22/2008 6:32:55 AM PST by RKBA Democrat (Lord Jesus Christ, Son of God, have mercy on me, a sinner!)
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To: Sender

Wow....amazing how the real world works, even in the US. Interesting shopping trip.


103 posted on 01/22/2008 6:34:43 AM PST by RSmithOpt (Liberalism: Highway to Hell)
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To: Milwaukee_Guy

It doesn’t break my heart a bit to see futures drop. They’ve become ridiculously inflated.


104 posted on 01/22/2008 6:35:59 AM PST by cake_crumb (Being a preacher DOES NOT exempt you from being a liar and a crook)
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To: GraniteStateConservative

I agree. Also, soon you can just burn money because at least then it would generate heat.


105 posted on 01/22/2008 6:37:06 AM PST by kenn5
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To: Perdogg

Holly Crap! 455 points in a few minutes.. WOW! Now we know why the Feds did a cut.


106 posted on 01/22/2008 6:37:19 AM PST by Sprite518
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To: rawhide

The markets were already going into the tank. There’s no way to stop them.

The Fed’s action is to show that:

a) the Fed is no longer completely clueless as to what is going on in debt markets (cf the problems in Ambac and MBIA)

b) that Bernanke isn’t going to be a stupid academic here

c) that the Fed would like very much for the traders to quit digging when they hit the bottom of the hole.

Oh, that, and there’s going to be a new call for short-term liquidity due to margin calls as a result of this sell-off.


107 posted on 01/22/2008 6:38:01 AM PST by NVDave
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To: RKBA Democrat

Yahoo is -not- showing the DOW?

Symbol Last Change
Dow N/A
Nasdaq 2,228.26 111.76 (4.78%)
S&P 500 1,275.14 50.05 (3.78%)
10-Yr Bond 3.547% 0.101
NYSE Volume 188,495,531.25
Nasdaq Volume 166,842,531.25

Radio saying the DOW is down 442, just like the futures predicted and completely unfazed by Helicopter Ben’s rate cut.


108 posted on 01/22/2008 6:38:16 AM PST by Milwaukee_Guy (Don't hit them between the eyes. Hit them right -in- the eyes!)
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To: mr_hammer

Anyone living on ccards is playing russian roulette with 2 loaded revolvers (one to each side of the head) and both having 5 shots loaded in each of the 6 cylinders. Then again, anyone that was still invested in the markets on margin past 12/06 just got their butts handed to them yesterday, today, this week.


109 posted on 01/22/2008 6:38:18 AM PST by RSmithOpt (Liberalism: Highway to Hell)
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To: Soren

I believe they’re referring to the Japanese market bubble crashing and burning back in the 1980s. Nice soundbyte though.


110 posted on 01/22/2008 6:38:40 AM PST by cake_crumb (Being a preacher DOES NOT exempt you from being a liar and a crook)
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To: Sprite518

That’s nothing.

Overnight, the futures were down well over 500 points. They’re the reason for the gap down — the market was already selling off in the index futures markets all night before the NYSE boys decided to show up for work.


111 posted on 01/22/2008 6:39:21 AM PST by NVDave
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To: Perdogg

Nice to see reality posted. Thanks.


112 posted on 01/22/2008 6:40:36 AM PST by jedward
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To: Milwaukee_Guy

Go MSN money. The updates seem to be very close to real time.

http://moneycentral.msn.com/investor/market/usindex.aspx


113 posted on 01/22/2008 6:40:39 AM PST by RKBA Democrat (Lord Jesus Christ, Son of God, have mercy on me, a sinner!)
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To: cake_crumb

Yes I know. The point is the aftermath looks a lot different when the populace can rely on savings through years of hard times.


114 posted on 01/22/2008 6:40:41 AM PST by Soren
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To: NVDave
500 points in 5 minutes is still a lot. I hope that does not trigger a mass sell off. I guess the market will shut down if it does.
115 posted on 01/22/2008 6:40:58 AM PST by Sprite518
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To: RKBA Democrat

Buy! Buy! Buy!


116 posted on 01/22/2008 6:42:18 AM PST by ctdonath2 (GWB wept for those who suffer. HRC wept for herself.)
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To: Milwaukee_Guy

Its hovering around 380 points... Only 13 minutes in..


117 posted on 01/22/2008 6:43:16 AM PST by Sprite518
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To: RKBA Democrat
Thanks for the MSN link!

Yahoo is still showing Friday’s chart.

118 posted on 01/22/2008 6:43:21 AM PST by Milwaukee_Guy (Don't hit them between the eyes. Hit them right -in- the eyes!)
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To: Bogie

Yup....small time dollar printing machine?


119 posted on 01/22/2008 6:43:42 AM PST by RSmithOpt (Liberalism: Highway to Hell)
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To: RSmithOpt
Sounds like you know what you are talking about.

I like to say "There are taxes, and, then there are taxes."

The guys on Wall Street are paying the hidden ones today.

120 posted on 01/22/2008 6:44:02 AM PST by Bogie
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