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Fed lowers discount rate by half a percentage point

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Posts: 28

july4433

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Joined: Sep, 2006

Posts: 521

Posted: Aug. 17, 2007 - 10:14 PM ET #26

Surprise, surprise, Three cheers for Ben Bernanke!!! claycourt, like your pick long FSLR right now.

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Vermeer

Veteran

Joined: Dec, 2006

Posts: 2910

Posted: Aug. 18, 2007 - 2:57 PM ET #27

Quote Originally Posted by KOAJ:

right on ccl - CFC bankruptcy would have been awful and it still may happen. did you know they were still writing subprimes a month ago? assholes...

i read that people tried to make a run on the bank (Countrywide Bank) very scary shit...like 1929 scary

in my chats with hedge fund, buy side firms...they are looking for cluster buying by insiders and using large insider purchases to confirm that their idea to buy a company is backed by the insider as well (food for thought)

regardless - this 50bp discount window cut is like putting a bandaid on a stab wound...there is blood in the water but the sharks havent surfaced yet...if a guarantor were to go under which would scare the piss out of everyone on the credit/debt side

I agree. As do others, but of course others disagree as well...

"I think rallies right now should be sold and that this thing is not over yet," says Steve Sachs, director of trading at Rydex Investments.

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claycourtlesson

All-Star

Joined: Jan, 2006

Posts: 14915

Posted: Aug. 18, 2007 - 3:06 PM ET #28

Yeah, it's harsh, for sure.

Let's face it, CFC gambled and gambled and gambled. They knew no ends to their "strategy" of selling crazy terms. Well, they got called. And what they had in their hands was crap. Oh well.....that's gamblin'.

It'd be like if a degenerate gambler like I am kept betting -250 NFL moneylines, over and over and over. Well, been there and done that enough to know that that "said strategy" will eventually bust an account wide open all the way down to zero, even if you go on a 2-3 year roll of lucky strikes.

CFC doesn't deserve any goddamn bailout package, just like the degenerate doesn't deserve his money back from the man when those -250 moneylines all go south.

I have no sympathy whatsoever for CFC, and if they indeed go bankrupt and all those fat cats lose their jobs and shit, then they got exactly what they deserved. Sorry.....but that's the way the cookie crumbles in the real world.

But, they'll get their sorry asses bailed out, and then I will immediately vomit.

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Fed lowers discount rate by half a percentage point

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