Sent: Thursday, November 01, 2007 7:40 PM
Subject: Big Ben Big Bad Ben Steps in it Again
Market down 362 pts Thursday. BBB said yesterday the economy is doing great, the GDP is up 3.9% for the quarter (old news) so I am only going to cut rates 1/4% instead of 1/2% and not again in Dec at next meeting. The egghead did it again. So after the market crashes he throws (prints is the more accurate word) another 41 billion $ to try to stabilize the market just like he did in Sept with 30B & 50B.
The College idiot does not realize the sub prime market crisis is real. He & Greenspan kept rates at 5 1/4% for over 4 yrs!!! Home prices are plunging & foreclosures are rising.
Friday bet on down. Monday bet on down unless Fed wakes up. Sleep tight.
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