Fed Keeps interest rates unchanged at 2% amid Lehman Brothers, Merril Lynch, and AIG crisis!
Posted on September 16th, 2008 by Paul
Hello everyone. This has been a week to remember. Lehman brothers the 158 year old storied wall street firm is now GONE.
Merril lynch.. GONE (sold to Bank of America)
AIG on the verge of Bankrupcy!!!!! If AIG goes, then the world is in for some VERY tough times. AIG is interconnected to almost every business in the world!
The key fed Funds rate that everyone was expecting to be lowered is sticking at 2% . What this means for you is that your money is going to still make the same at the bank it has been for some time. What it means for the banks and financial institutions is that they are on their own raising capital in this already very tough environment!
Stay safe.. will update shortly
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