Wow

[JeffWartman]

Drugs are bad

[ame]http://www.youtube.com/watch?v=SWksEJQEYVU[/ame]

 

[Paulie]

Dooooooooom and gloooooooooom!!!!

Where's RSR when you need him...

 

[BaronVonBigmeat]

Wow, that's quite a meltdown!

Hey Toro, could you translate what's going on here into layman's terms? If I had to hazard a guess, it sounds like he wants the Fed to hold rates down so that people with adjustable rate mortgages don't lose their homes and take down some large companies with them (?).

 

[Dirt McGirt]

Wow, that's quite a meltdown!

Hey Toro, could you translate what's going on here into layman's terms? If I had to hazard a guess, it sounds like he wants the Fed to hold rates down so that people with adjustable rate mortgages don't lose their homes and take down some large companies with them (?).

Pretty much. The poor housing market and credit crunch is bankrupting the mortgage companies and it's hurting everyone across the boards (funds, bonds, etc.) There were some people here who saw the writing on the wall because they were following common sense market principles and economics instead of talking points from the Republican party about how great the economy was doing because of the stock market. On a positive note, after the fed meets, it'd be a GREAT time to buy a house.