The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Les H who wrote (93270)	10/29/2007 5:07:24 PM
From: ChanceIs	Read Replies (2) of 306849

Didn't Gross command a lot of respect in the financial community in years past??? A 125 basis point cut?!?!?! If it happened there would be enormous panic. You mean things really are that bad??? If things are that bad and Gross so smart, why wasn't he screaming a year ago?? In absolute terms, rates aren't that high. I paid 10% on my first mortgage back in '89. Basic problem is that Bubba Clinton started running the presses like there was no tomorrow, and "W" just made things worse. Piper has to be paid. Stephanie Pomboy says best thing is to raise rates. It will keep the foreign investors here and the long dated treasury rates down. Makes sense to me. We won't do that. I have my Canadian O&G and housing/bank shorts. Its been working really well all year. I can't see how lower rates will save housing.

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