Happy Birthday, Rhonda Porter! March 16, 2008
Happy Birthday, Rhonda!
We appreciate you sharing all your knowledge and expertise on the mortgage market. The coming days should be VERY interesting!
THANK YOU for all the time you spend with raincityguide’s readers.
- Posted in : General Real Estate
- Author : Jillayne Schlicke
Comments»
Thanks, Jillayne. Is this a payback?
Yes!
Now finish up with that birthday party and take a look at what’s happening: Bear Stearns sold for $2/share
http://online.wsj.com/article/SB120569598608739825.html?mod=googlenews_wsj
and this:
Release Date: March 16, 2008
For immediate release
The Federal Reserve on Sunday announced two initiatives designed to bolster market liquidity and promote orderly market functioning. Liquid, well-functioning markets are essential for the promotion of economic growth.
First, the Federal Reserve Board voted unanimously to authorize the Federal Reserve Bank of New York to create a lending facility to improve the ability of primary dealers to provide financing to participants in securitization markets. This facility will be available for business on Monday, March 17. It will be in place for at least six months and may be extended as conditions warrant. Credit extended to primary dealers under this facility may be collateralized by a broad range of investment-grade debt securities. The interest rate charged on such credit will be the same as the primary credit rate, or discount rate, at the Federal Reserve Bank of New York.
Second, the Federal Reserve Board unanimously approved a request by the Federal Reserve Bank of New York to decrease the primary credit rate from 3-1/2 percent to 3-1/4 percent, effective immediately. This step lowers the spread of the primary credit rate over the Federal Open Market Committee’s target federal funds rate to 1/4 percentage point. The Board also approved an increase in the maximum maturity of primary credit loans to 90 days from 30 days.
The Board also approved the financing arrangement announced by JPMorgan Chase & Co. and The Bear Stearns Companies Inc.
http://www.federalreserve.gov/newsevents/press/monetary/20080316a.htm
Buckle up.
Yes..Rhonda. Happy Bday! I have a 500 Realty shirt for you as a gift. You can wear it to work.
On the Front it says. “Always Look for your Home”
on the back
“But Never call the Name on the Sign”
Your customers will be happy you educated them and YOU can wear it with Pride.
Happy Birthday, Rhonda!
HAPPY BIRTHDAY RHONDA!!!!!!!
Happy Birthday! Thanks for all you do!
Who would have ever thought CFC would be worth ten times what BSC is?
Happy Birthday Rhonda!
As always: you rock!
Jillayne-
The Fed is having to come up with some very creative ways to keep this economy from imploding into Depression-like status. The $30BN bail out of Bear shows strong concern of a possible national scale bank run. Once it starts it won’t end. The Fed will probably do whatever is necessary and that includes keeping inflation concerns on the back burner to prevent this.
Happy B-day Rhonda. Nice shirt!
Thanks everyone! Jillayne, I just got my shirt–you REALLY SHOULDN’T HAVE…but I’m glad you did!
Whoo hoo! Does it fit? Maybe it will be a collector’s item someday. (I sent Rhonda a Countryfried t-shirt in the mail.)
Are you going to send me a Whoo hoo WaMU shirt next?
Happy Birthday Rhonda!
Thanks everyone! I’m I so tired tonight because I turned a year older yesterday?
“Are you going to send me a Whoo hoo WaMU shirt next?”
Are they for sale? I’ll tell you what. If WAMU gets bought out by Buffet, I’ll do my best to hunt one down.