Filed under: Rants and raves, Countrywide Financial (CFC), Economic data, Housing, Federal Reserve

For the past week, I have been making the case for the Federal Reserve Board to leave interest rates alone and protect the dollar. HEY BEN I HOPE YOU HAVE BEEN LISTENING! Today and tomorrow, the BIG meeting is going on and the world awaits which way we go. Stand your ground Ben, you have given enough breaks to Wall Street and the bankers, let them pay for the mess they created, not John Q. Public (again).

No investment bankers are giving back the multi-million dollar bonuses they received when they were pushing their CDO packages out the door as fast as the ratings agencies’ (perhaps fraudulent) AAA ratings stamps dried. No way should they be given a pass on this.

I also am not that worried about home foreclosures. If speculators take a loss, they will learn a lesson (I hope) and if you bail them out they will be at it again. If the banks take a loss on the foreclosures, they will have to sell them at a lower price (current market) to other families that also need a home — THE HOMES WILL NOT SIT EMPTY, the banks will unload them.

Continue reading Hey Ben - Leave the rates alone and don’t worry about foreclosures!

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This entry was posted on Wednesday, October 31st, 2007 at 1:53 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.