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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (374298)	3/16/2008 8:48:13 PM
From: tejek	Read Replies (1) \| Respond to of 1575980

And now the fed is finally moving its fat ass to do what needs to be done. I mean how often does the fed cut the fed rate on a Sunday? This is the stuff Cramer has been screaming they should be doing since last summer. Fed Cuts Discount Rate to 3.25% The Federal Reserve Board Sunday cut the discount rate to 3.25% from 3.50%, effective immediately, in a move aimed at shoring up financial market liquidity. The discount rate is the interest rate the U.S. central bank charges on loans it makes to banks at the New York Fed's discount window. The Fed's move puts the discount rate a quarter-point above its federal funds target, which is the rate banks charge each other for overnight loans. The Fed Board also said it voted to authorize the New York Fed to create a lending facility to "improve the ability of primary dealers to provide financing to participants in securitization markets." The facility will be available for business Monday, March 17, the Fed said. thestreet.com