10/8 Drudge
Image by MyEyeSees
Things Get Serious.
Pre-opening - Fed cut rates, generates big impact on futures, up 100 points after being down 150 points and other markets followed suit in world coordination- Does this help stabilize? Billion bailout in UK enacted -- Bank of England announces 0 pool of money for banks to borrow from - intrabank lending... First emergency rate cut by England, last time did this was on 9/11
Market Opens... Dow down 206.13 points
US consumers paying down debt forthe first time in a decade - MarketWatch
Dow down more than 1400 points over past five sessions
Day Ended: The Dow closed down 189.01 to 9,258.10
Henry Paulson, warned that financial "turmoil" will not end soon and that more banks are likely to bite the dust. Stocks close, stock indexes suffer sixth straight day of losses
Part I: Sept. U.S. Economic Crisis Media Study ---
www.flickr.com/photos/myeye/sets/72157607584362826/
Blogging on the subject starts with
Bigge$ st Cri$ i$ and Media--
motherpie.typepad.com/motherpie/2008/09/bigget-crii-and.html
Cash-for-access row and MPs grill Osborne on budget: Politics live blog
Osborne quotes from what the Bank of England said about putting up interest rates.That would push the economy back into recession, he says. Q: When did you last buy a pasty in Greggs? Osborne says he can't remember. Q: That sums it up.
Read more on The Guardian (blog)
More questions on Harp 2 mortgage refinancing
My mortgage is interest-only (6 percent) with Wells Fargo Bank and Freddie Mac is the owner of the mortgage. If so, do I proceed by contacting WFB? A: Yes. Borrowers can refinance loans secured by second homes and one- to four-unit investor properties ...
Read more on San Francisco Chronicle
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