Interest Rate

iVillage Member
Registered: 11-17-2007
Interest Rate
4
Tue, 12-02-2008 - 8:40pm

I am a news nut I watch it all the time on cable There was these two men on there can't remember there names but they were suppose to know what they were talking about.


Here was something I found that they said was interesting. They said the three big auto makers were going to the federal government for loans because the banks had no money to lead then That wasn't a surprise to me


Recently I hear that the Federal Reserve had lowered the prime

iVillage Member
Registered: 03-17-2003
Tue, 12-02-2008 - 10:24pm

You know Mary Ann the reason the Big 3 Automakers won't take out loans is because they can't.


They are not a good credit risk.

iVillage Member
Registered: 06-18-2004
Wed, 12-03-2008 - 5:29am

Mary Ann, I heard some talking head on TV (I *think* is was Ali Velshi on CNN--may not have been) saying that the Fed was going to go for ANOTHER rate cut in JAN.

iVillage Member
Registered: 03-26-2003
Wed, 12-03-2008 - 9:05am
The problem with the economy right now is the government thinking that they need to get the citizens in this country back to the borrow and spend mentality that got us here in the first place. It's ridiculous to encourage even more borrowing and consumerism. We need to live within our means and save money. It's going to be painful, but it's what needs to happen. Throwing money at the problem and making credit easier to get is just going to make the problem worse. I think lowering the interest rates yet again is a stupid thing to do. I wish someone with some sense would take over.
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iVillage Member
Registered: 07-10-2003
Wed, 12-03-2008 - 8:09pm

Think what worries me is the auto industry and the rest say they are cutting expenses and so deserve help BUT they are doing it on the backs of the workers they are laying off.