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Fed cuts interest rate

Friday, August 17, 2007 by Dave Winer.

AP: "The Federal Reserve approved a half-percentage point cut in its discount rate on loans to banks Friday, a dramatic move designed to stabilize financial markets roiled by a widening credit crisis." Permalink to this paragraph

This was a surprise. Now we find out if the market comes out of its downward spiral.  Permalink to this paragraph

© Copyright 1994-2007 Dave Winer Mailto icon.

Last update: 8/17/07; 8:35:42 PM Pacific. "It's even worse than it appears."

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