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24HourForums.com > Supported Forums > 24's Money Business > Fed cuts rate a half point!

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 Moderated by: 24HourNut

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 Posted: 03:35 pm

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Wow, half point cut.  Didn't expect that.

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WASHINGTON (AP) -- The Federal Reserve approved a half-percentage point cut in its discount rate on loans to banks Friday, a dramatic move designed to stabilize financial markets roiled by a widening credit crisis.




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Blackhawk
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 Posted: 05:01 pm

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It's nice to see the government devaluing the dollar to prop up the banking industry again.  It seems that the little guy is always responsible for his actions...with business however, our "free market" system is run like a communist country, they expect government help at every turn.


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 Posted: 06:06 pm

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Too many loans and no savings, can you say Japan? Rates were at 0% and it still wasn't helping. Too many years of letting inflation run amuck means many years of a downward spiral!


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24HourForums.com > Supported Forums > 24's Money Business > Fed cuts rate a half point!


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