The Fed needs to cut interest rates to zero

re: The Fed needs to cut interest rates to zero

BOB — Fri, 10 Apr 2009 16:35:09 GMT

THE MOST IMPORTANT THING TO DO ABOUT INTREST RATES WOULD BE TO LINK THE INTREST CHARGED ON CREDIT CARDS ECT. TO THE INTREST PAID ON SAVINGS. AS AN EXAMPLE IF YOU ARE CHARGED 20% INTREST ON YOUR CREDIT CARD THE BANK WOULD BE FORCED TO PAY BETWEEN 7% TO 10% INTREST ON SAVINGS, ONE THIRD TO ONE HALF. THE IDEA THAT THE BANKS CAN CHARGE YOU 30% ON YOUR CREDIT CARD AND PAY .02% SAVINGS INTREST IS UTTERLY RIDICULOUS! 1000'S OF PERCENT PROFIT IS INSANE.

re: The Fed needs to cut interest rates to zero

sh — Wed, 01 Oct 2008 23:03:10 GMT

Why bail out the idots and pay them on top of it? The jerks on the board of directors should also be held responsible for the inflated salaries and etc.

If they want to bail someone out it should go the the people trying to pay their morgage because these greedy jerks set them up. Take the salaries and bonus from them and give it to people to pay their morgage. Let the banks fail and have the borard of directors pay the missing funds out of their pockets. And lets elect another dork for president.

re: The Fed needs to cut interest rates to zero

Mark — Wed, 01 Oct 2008 22:35:33 GMT

Folks,

The heart of the matter is the millions of homes scheduled for foreclosure in the next couple of years. When are the politicians going to take care of the folks that are struggling to make ends meet? If you think housing is bad now, wait to see what happens in two years. Cities and towns across the nation are losing millions in tax revenue. When are we going to rescue the homeowners that can actually afford their mortgage and bring some stability back to the "housing crisis"?

re: The Fed needs to cut interest rates to zero

Bryce M — Wed, 01 Oct 2008 22:21:04 GMT

These CEO's need to go to jail, lose there homes, have the bank accounts and assets frozen. They shouldn't be rewarded for running the companies they represented into financial ruin.

re: The Fed needs to cut interest rates to zero

Robin — Wed, 01 Oct 2008 22:20:24 GMT

There's more than enough wealth in this country to get it back on track but the filthy rich have become way to accustomed to their lavish lifestyle to be willing to start paying their fair share of making this great country what it once was. You really can't blame the average person for wanting a little piece of it, after all, It is called the American dream. We grew up believing that if we worked hard and did all the right things we would have a good life but the greed of Wall Street and the rich worldwide spread like a cancer. They wanted more and we were the stupid pawns to give it to them. Now that their party is over they gather up their billions and move it out of the country for fear someone will discover what crooks they really are and freeze their assets. Not much chance of that happening under the current administration. Lucky for us this is an election year or we still wouldn't have a clue what was going on because it would all be done behind closed doors like the eight years of Bush.

I say "NO BAILOUT" VOTE DEMOCRATIC! CLEAN UP WALL STREET! GET OUT OF IRAQ! HELP THE PEOPLE!!!!

re: The Fed needs to cut interest rates to zero

CG — Wed, 01 Oct 2008 19:55:40 GMT

The mortgage rate need to be drop down to 4 percent. That would allow most Americans to refinance their home loan. By refinancing people will be able to consolidate bills. With in months you will see that the economy is improving.We worked all our lives and now it time to retire and our life savings is vanishing because of greed.

re: The Fed needs to cut interest rates to zero

I am an American nothing before it, or after it. AMERICAN!!!! — Wed, 01 Oct 2008 19:22:04 GMT

0% on bank to bank will help out just as well as attacking Iraq and then rebuilding it. come on people catch a clue. If the banks can barrow as much as they like and it costs them nothing do you think the cost to you will come down? The banks will keep your rate the same and make up the losses they have recived these last years, from those people who think I desirve IT (a house).

re: The Fed needs to cut interest rates to zero

Steve Peterson — Wed, 01 Oct 2008 19:10:44 GMT

Cutting the fed rate to zero would have an immediate postive impact on those of us who have home equity loans. The corresponding interest rate would drop by two percent. So for someone with a $100K loan that would be two thousand dollars a year saved on interest. Many credit card rates are tied to the fed rate too and there would be a corresponding drop in rates on the credit cards too. Many consumerand small business loans are tied to the prime rate which directly relates to the fed rate. Last but not least, car loans would also be lower with a lower fed rate. All of these credit instruments for consumers would be impacted positively and immediately without any time delays.

On the subject of savings and CD rates there needs to be legislation passed by congress that exempts interest earned on those accounts from Federal Taxes similar to the exemption from taxes that most municipal bonds enjoy. This will increase the return to depositors on deposits and encourage more people to save and at the same time make more money available to the banks and credit unions to loan to businesses and consumers.

re: The Fed needs to cut interest rates to zero

seliza — Wed, 01 Oct 2008 19:00:18 GMT

Only in America. The rich get richer, the professional welfare moms get paid for babymaking, and us shcmucks that work everyday just trying to make ends meet, get taxed out of our homes, and our lives. and again,I say, Only in America.

re: The Fed needs to cut interest rates to zero

karen brooks — Wed, 01 Oct 2008 18:53:51 GMT

Many good comments and insightful ideas listed but unfortunately the government will continue to do what they're going to do. Some big-wigs might get a slap on the hand but they're laughing so hard going to the bank they don't feel a thing. Do you honestly believe that anyone or group in government can really turn our numerous situations around? Unfortunately it will be the common people that will get the fallout by loosing their home, job, retirement savings and pride. We'll continue to blog on deaf ears. What has happened to "U.S."?