The Fed jumps in to protect the wealthy hedge funds, they do not have to answer for their bad investment policies, because the Fed will help them weather any probs. IMO, they should be left to dry in the wind, but that is not how this system works.

The Fed Chairman seems to say it is not as rosy.


Nov. 9 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke failed to convince investors that there's no need for further interest-rate cuts soon.

Bernanke told lawmakers in Washington yesterday that officials already expect the economy to ``slow noticeably'' this quarter, and warned of ``upside risks'' to inflation. Futures traders focused on his growth comments, increasing the odds of a quarter-point cut in the benchmark rate on Dec. 11 to about 96 percent today, from 68 percent a week ago.


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The Fed may change how it reports on the economy. This sounds fishy to me.


Nov. 9 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke will discuss policy makers' communications strategy in a speech next week, when he may announce changes designed to increase the transparency of interest-rate decisions.

Bernanke will deliver the remarks at the Cato Institute, a research group in Washington, on Nov. 14, the Fed said in its weekly public schedule, released today. Fed spokeswoman Michelle Smith declined to elaborate. The Fed chairman charged a panel of policy makers last year with reviewing how the central bank communicates its policy objectives.


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Free Trade? Can You say Bullsh*t? Just another way the government protects the wealthy and corporations. This is loosely veiled as a way to help the people...I say it is bullsh*t!


This holiday season, families will reflect on the past year and make new goals and resolutions for 2008. But for the two million homeowners who face foreclosure over the next year because of the subprime mortgage crisis, their New Year's hopes rest not with themselves, but with policy makers in Washington and the investment community on Wall Street.

This is a time for Samaritans, not Scrooges. The enormity of the unfolding crisis is clear. Unfortunately, the remedies to the subprime crisis that have emerged will only slow the threatened economic tsunami, not prevent it.

The Bush administration's proposed five-year freeze on home-loan rates, while a step in the right direction, doesn't go far enough. The plan, unveiled yesterday, simply doesn't help most of the families facing a foreclosure threat. Of the 6.5 million subprime borrowers in total, only about 750,000, or 12%, would be helped, according to some estimates. They are the homeowners who are up-to-date now with their loan payments but would fall behind and risk foreclosure when the loan resets in the coming year.


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