tag:blogger.com,1999:blog-13037130.post1511355232117088554..comments2024-03-28T12:28:25.633-07:00Comments on Manhattan Beach Real Estate-Redondo Beach Townhomes: South Bay-Beach Cities: August SOLD 2007Kayehttp://www.blogger.com/profile/09003331406008950614noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-13037130.post-47283595385910549812007-09-19T00:05:00.000-07:002007-09-19T00:05:00.000-07:00Louise- Thanks for sharing the article.. I always ...Louise- Thanks for sharing the article.. I always liked Seidman and he is absolutely correct.. The problem has never been the loan product but the abuse of loan products that were meant to be used for specific types of borrowers not the general public.<BR/><BR/>I think Glaser is right.. the effect of the rate cut will have more to do with soothing the jitters of the credit markets rather then bringing interest rates down to last year' levels ... <BR/><BR/>The "experts" never seem to agree which may explain why the markets are in such disarray. However if it brings Jumbo loans down a bit that would be helpful in CA and other high priced areas.Kayehttps://www.blogger.com/profile/09003331406008950614noreply@blogger.comtag:blogger.com,1999:blog-13037130.post-1266244715697929092007-09-18T22:20:00.000-07:002007-09-18T22:20:00.000-07:00Ms. Thomas:I wanted to share this article with you...Ms. Thomas:<BR/><BR/>I wanted to share this article with you. It's sort of a round up of expert opinions about the likely effects of the Fed rate cut.<BR/><BR/>One of the most interesting comments came from the former head of the FDIC:<BR/><BR/>Bill Seidman/Fmr. Head of FDIC, CNBC Chief Commentator: "If credit is bad, rates don’t count. I don’t care if you lower the rate 100 basis points. It may improve some of the profits of those institutions that lost a lot of money due to bad credit, but it does not address itself to the real problem, which is bad lending. And let me emphasize: it’s not just subprime, it’s substandard lending." <BR/><BR/><BR/>http://www.cnbc.com/id/20834638<BR/><BR/>It seem like none of the experts are too optimistic about getting any real relief from today's Fed action.<BR/><BR/>Well, let's hope all the experts are wrong, right?<BR/><BR/>LouiseAnonymousnoreply@blogger.com