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To: RealMuLan who wrote (69584)	9/27/2007 9:56:34 AM
From: John Carragher	Respond to of 116555

that gives us another month to get some lift and sell .

To: RealMuLan who wrote (69584)	9/27/2007 9:58:27 AM
From: Bucky Katt	Respond to of 116555

They are 'banking' on another FED cut, but that meeting is at the end of October, and in the meantime a lot of bad things could happen, or not. They are keeping it messed up enough to keep shorts from making big bets.

To: RealMuLan who wrote (69584)	9/27/2007 10:12:27 AM
From: Bucky Katt	Respond to of 116555

FED funds overnight> 4.88 percent (Low 3 1/2%, High 5 1/2%) with 14 basis points of standard deviation. newyorkfed.org

To: RealMuLan who wrote (69584)	9/27/2007 10:12:47 AM
From: Bucky Katt	Read Replies (2) \| Respond to of 116555

The European Central Bank made an emergency $5.5 billion loan overnight>>> The European Central Bank loaned the most money at its penalty interest rate in almost three years as policy makers struggle to push down market borrowing costs. The ECB loaned 3.9 billion euros ($5.5 billion) at its marginal lending rate of 5 percent yesterday, the most since October 2004, the Frankfurt-based central bank said today. It didn't provide details on who asked for the money. The ECB has held seven special auctions to help cash-strapped banks since Aug. 9 after the collapse of U.S. subprime mortgages led to a credit-market slump. The rate on three-month money rose to 4.73 percent yesterday, close to the six-year high of 4.76 percent touched on Sept. 5. ``Institutional lenders are likely to remain skittish in this environment,'' said Lena Komileva, an economist at Tullett Prebon in London. ``There is no quick fix in the pipeline at least until the year-end.'' U.K. banks have been among those most hit by the credit slump, which nearly pushed mortgage lender Northern Rock Plc out of business this month and led to a run on deposits. U.K. commercial banks yesterday shunned an auction of three- month emergency cash held by the Bank of England at a penalty rate of 6.75 percent.