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Strategies & Market Trends : John Pitera's Market Laboratory

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To: robert b furman who wrote (8955)	3/14/2008 11:59:30 PM
From: Augustus Gloop	Read Replies (1) of 33421

Bernanke spoke either last week or earlier this week (don't recall). As I listened it sounded like he was all but begging the banks to follow the feds lead in reducing rates in an effort to ease some of the credit pressure. Banks were guilty of bad lending practices! This isn't just a case of mortgage brokers pushing deals through countrywide. The problem we have is there's a point of no return with this situation and it will negatively impact everyone. If the banks don't lower rates and aren't going to be part of the solution then the Fed needs to quit cutting rates

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