Fed cuts rate

The Fed have cut the federal rate by 1/2% to 1%. Money is cheaper to borrow and this will entice people, the decline in oil prices to $68 as of today, this decline is due to the ecomomic crisis we are facing.
With the lowered % rate we can hope for increased consumer activities which will trigger economy activity. We will begin to see reduction in the cost of borrowing mortgages and equity loans. Unfortunately we won't see any change in credit cards %, this is because the c.c companies want a piece of the pie.
Businesses need to go out and start the train moving in the economy, borrow and hire more people,expand business and start getting investors in and rebooth this countries' economy.

The Banks Are Still At It.

With the melt down on wall Street you would think banks are being sensible and refrain from paying employees the same or even more as they did last year and with bonuses tied to personal or companies performance to these payments.
Some of the largest banks in the US have cut thousands of jobs, salaries, benefits and bonuses and have seen an increase in salary up to 3% over a year ago.
The banks got us in this mess because of their greed and now they are asking taxpayers to bail out these large corporations. People have loss their bonuses and their pensions and are being asked to continue having faith with these scoundrels. Despite the economic disaster these banks have cause they will decide what to pay out even though they are responsible. It seem that these companies want the compensation plan to pay employees and allow them to get wealthy. The people that they laid off could be paid with the extravagant bonuses that the y are giving out.
Will the banks learn a lesson or is this just another day in the world of financing and being reckless with other peoples' money.

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