JPMorgan Chase buys Bear Stearns for $2/share...

[RogueFactor]

http://money.aol.com/news/articles/_a/jpmorgan-to-buy-bear-for-2-a-share/n20080316202809990025

As a result, the Japanese Nikkei Index is down 350+ points, Gold is up to 1,022+, and the Dollar-Yen is ~97 Yen.

All hell is breaking loose fellas.

[MoeMag]

the Dollar-Yen is ~97 Yen.

Anyone remember that old american express ad... 1 t-shirt 10,000 yen

:wthumpup:Classy.

[txaggie08]

oil is down 5$ a barrel though to 104.25

[RogueFactor]

oil is down 5$ a barrel though to 104.25

I remember not too long ago when $100+ oil was considered a joke.

[MoeMag]

Im working on a project that was started two years ago with the intention of creating a synthetic fuel for twice the going rate... our goal is getting easier. LOL
:cheers:

[RogueFactor]

Im working on a project that was started two years ago with the intention of creating a synthetic fuel for twice the going rate... our goal is getting easier. LOL
:cheers:

Well, if(I should say when, tomorrow the FOMC will be dropping the rate..as much as 1%) the interest rates drop and our dollar gets any weaker than what it is...youll get your wish sooner than you think.

[Mann]

I know it sucks for our economy, but I am loving our interest dropping. I am thinking about refinancing my house. :banana:

On another note. Damn my retirement is going down the drain.

[RogueFactor]

I know it sucks for our economy, but I am loving our interest dropping. I am thinking about refinancing my house. :banana:

On another note. Damn my retirement is going down the drain.

Thats the worst part, right now anyway. As the Fed drops the rate, the banks are raising their 30-year loans(above 6% right now from what I heard) to shore up their books due to the sub-prime mess. Its one reason why the housing issues havent changed...good buyers are having hard times finding reasonable loans.

[RogueFactor]

... but I am loving our interest dropping. I am thinking about refinancing my house. :banana:

Im afraid that wont happen any time soon...

http://www.cnbc.com/id/23690581

[SCpoloRicker]

I'm loving 375k 30fixed/10 IO option at 5.375%. And, short of catastrophe on a greater scale than 9/11, interest rates will not be anywhere near the recent historic lows in the foreseeable future.

Regions that over-escalated in price will have some cheap opportunities that may work for some people. But if you're in a traditional strong market, you're totally screwed.

/friends in the industry
//home prices still rising

[Mann]

Im afraid that wont happen any time soon...


interesting read. Fortunately we have a "family friend" that is a president at a bank. We have a 7% one now. I am hoping to get lower possibly. We were without electricity all day today so I will have to call probably Thursday to talk to him.