From Mortgage Meltdown to Financial Tsunami

On Tuesday the Fed’s took what some called a “tough love” stance and chose to hold the Fed Funds Rate at 2 percent for the third straight meeting. This move leaves the prime lending rate at 5 percent. The prime rate is attached to credit cards, equity lines, student and car loans. The Fed did [...]

Roller Coaster Continues for the Financial Sector

Financial sector is in trouble again today, the Dow Jones Industrial Average down more than 460 points. The Standard & Poor’s 500 index has fallen 54 points, and the Nasdaq composite index fell 74 points. The big news makers are Lehman Brothers, Merrill Lynch, Bank of America, AIG, and the Fed buy up of $70 [...]