Thursday, December 06, 2007

BUSH BAILOUT


Bush Administration Mortgage Plan Will Freeze Certain Subprime Interest Rates for 5 Years

The question is, do stocks rally tomorrow?

It seems to me this news was already priced in. California was the first to take action on the housing mess, then Hillary threw up her arms a few weeks later and talked to BUSH about holding rates steady until the turmoil had passed. Finally PAULSON and BUSH are taking action on the housing mess, but has the damage already been done? Certainly there are some P-ED of people that wish they could've got those teaser rates on their mortgages. I'm glad that BUSH is taking action. This may benefit the US economy and prevent something worse from happening.

Do we need to cut interest rates again? What for? With BUSH intervention on the housing mess, is there really any need? We already got the big write downs from all the major US banks. Cut interest rates again?

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