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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (84581)9/5/2008 12:48:42 AM
From: mishedlo  Read Replies (1) | Respond to of 116555
 
Meanwhile, those 350 basis points of Fed Cuts did little to nothing to bring down borrowing costs for all but the very, very best borrowers who didn't need it in the first place.

Not quite correct

It brought down rates of ARMs holders tied to LIBOR or treasuries. It did not help new borrowers, bit it did help existing ones whose rates were about to reset.

In fact, resetting rates is why he acted so fast.

Mish


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