Now it is clear bankers control the destiny of America – he's nervous?
1 hour, 17 minutes from Canadian Press WASHINGTON – The Federal Reserve cut its policy-setting federal funds rate by three quarters of a percentage point – disappointing some financial market participants had provided a reduction of one full point. The decision of the U.S. Central Bank intervenes in a context of strong and growing anxiety about the U.S. economy general and the financial system in particular http://ca.news.yahoo.com/s/capress/fed_credit_crisis
It is an alarming situation to be stored in banks as the bricks many fell after news of Bear Stearns. My own bank has declined 43%. Thank God I do not have bank shares. Bear Stearns survived the Great Depression unscathed, but can not survive this, what are we supposed to believe is not a recession, but a normal downturn. What if the Fed lowers its rate to 0? It is sometimes very uncomfortable We read these other answers, it seems that people really have no idea what is happening. Investments Investment Companies are built on shaky ground at best. Namely the mortgages that have been taken within the sub-loans to prime time. Now that these loans are self-implosion, the house of cards comes down with it. It makes no difference if you make good money, savings and investments in retirement. The solvency of the banks is what is at stake here. It is best to start educating yourself before because the horse is riding high not save you.
Bernanke, Bank of America, and Merrill Lynch – The Need for more Transparency in the Fed