The Federal Reserve

18 03 2008

Chairman Ben Bernanke and his Merry Men decided on a 75 basis point cut today to the lending rate. I was surprised, I thought it was going to be 1 full point. This is all pretty interesting in light of what is happening with the housing market, and the Bear Stearns buy-out. Read more at Forbes.com.

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Word o’ the Day

17 03 2008

The word of the day today is “derisory.” Now, I don’t typically have a word of the day, because……..well, I generally have more important things to write about. But today, someone in the news used the word “derisory,” and it is now the hottest thing seached for on google, so I am assuming that people do not know what it means.
Derisory: contemptuous, mocking, laughable, ridiculous

Apparently the offer that JP Morgan made for Bear Stearns is derisory. Haven’t been following the story? Well, instead of try and talk about it like I know something, I am just going to refer you to this Wall Street Journal story. Enjoy.