Fed say's it is getting worse

[Sarge]

http://apnews.excite.com/article/20080214/D8UQ5K7O1.html

Quit printing more money and it will get better.

 

[Bruno]

And quit manipulating the economy.

Everyone wants to blame the banks and mortgage companies for the subprime and adjustable rate mortgage mess. There is plenty of blame to go around.

But a large portion of the blame lies with the FED. Adjustable rates are tied to the index that Bernanke is proposing be reduced yet again today.

When rates were held artificially low from 2001-2006, adjustable rates did not increase. When the FED raised that key index rates, mortgage companies were basically forced to raise their adjustable rates as well, causing large increases in homeowner's mortgage payments.

Of course, the rest of the blame goes to the either mortgage-ignorant or plain greedy/speculative people out there that jumped on the gold rush that was called the Housing Boom.

For fun, read about tulipmania that occured in the Netherlands and caused the price of a single tulip bulb to equal the price of a house.

http://en.wikipedia.org/wiki/Tulip_mania

 

[PatriotG]

They should be abolished!

Forget about dont do this, and stop doing that.

They should have never been in business and should be brought down as soon as possible.

 

[liberty_Forever]

Don't worry guys -- Bernanke is a religious man!