September 5th, 2007
That remains the big question.? Various short-term funding mechanisms such as rates tied to Libor have gotten as high as 6.00% as banks and Wall St are struggling to find and make loans.
The Fed and Europe’s counterpart continue to pump liquidity into the system.?
It still seems more likely than not that the Fed will ease rates in the upcoming meeting (Sep 18, 2007).? But that still won’t solve the problems.? Banks and consumers/homeonwers are going to have to work closely together.? The banks don’t need a bunch of property they can’t sell.? The homeowners don’t need to be on the street.
Isn’t there a song, “Let’s get together, yeah, yeah, yeah”?!??
Can we do this, yes we can!
-- By +Chris Duncan