The Fed needs to protect ARM mortgagees,who never expected it would become impossible to downsize a home situation. We have a Florida Governor who is "wet behind the ears" and has a huge ego and PR staff-- no help for anyone! Yes,there are millions of older people who cannot afford the huge tax increases and costs of insurance--we cannot sell and we cannot stayin our million $ mansions the liberal press write about. I for one say' VATBO"-- vote all the bums out!

I tend to agree with Mr Liber.

as for comment 1 from Jack, I know you mean well, but the fact is that those who bet on ARMS deserve to get a leg and a kick in the rear from the leg.

Arms were a greedy way to get more for less, and was a risk. RE prices rose beyond value due to speculation. RE prices had to drop and level off, as the affordability of RE housing reached new lows.

Why should the feds bail out the gamblers? Lowering interest rates have far more negative and wide reaching results, such as causing a further devaluation of our currency, by inflation and making the dollar less valuable as an investment abroad.

sc

Want to fix the US economy for the long term?

Forget about short term interest rate changes by the feds, this only creates instability.

Fix the deficit!!! Get the fat cats to understand that fixing long term US debt is in their best interests. The political right demands less tax and financial responsibility yet demands greater military involvement in foreign affairs. Also private equity drain and the creation of a new "middle man" in the economy is not a positive long term development. If the right wing demands greater and long term involvement in foreign excursions, then pay for it, that is a logical business decision. You cannot fight a war on credit and then farm the job out to private enterprise, duh, a calamity waiting to happen... RE markets in US, what goes up comes down, it will level off and stabalize, the fed bank should sit this one out.
sc

I have to wonder if any the "economic experts" commenting on this or the earlier articles have, by any chance, lost their home, or are in the least danger of doing so- I'm not either, but there are literally millions of "poor" folks out there that, honestly, are just not as smart as you guys and "Ben". It's not the financial or economic need that calls for a rate cut- it's the gesture, the psychological security an average person needs, that the country needs, to feel from a simple .25 cut in the fed funds rate. And I promise, it won't cause the whole world to fall apart; in fact, just the opposite. If we settle down a little, emotionally, the rest of the world will too. Ben's The Man- if he doesn't do it- settle some nerves a little bit with a rate cut-nobody can. And things will get a WHOLE lot worse before they get better- I promise.

To Dennis: I agree with you in your concept, but unforunately, a rate cut will not "trickle down" to the people who need it. The so called average person is so far out of the "loop." Loose money only makes the fat fatter... Maybe we need fed intervention to cut the gap, but I am not talking about the fed bank.. and it will never fall down right unless there is a drastic change in social policy...

sc

also, need to mention, sorry, I am on West Coast time... we need to end US reliance on Mid East oil.. run our cars on US coal, steam, hydrogen, nuclear, whatever! As long as we send trillions to the mid east for energy, we are doomed to continue a downward spiral.. US govt has to take an active part in changing the mix of energy used in this country. Cut the money to the mid east, and we solve alot of problems...

sc

What?!? Market's moving on the possibility of a rate cut? Perish the thought.