The federal funds rate, an overnight bank lending rate that affects how much interest consumers pay on credit cards, home equity lines of credit and auto loans, was cut to 2.25 percent.
Link
Tuesday, March 18, 2008
Whistleblower exposes insider trading program at JP Morgan
A confidential memo obtained by Wikileaks shows that not only has the U.S. Securities and Exchange Commission created an insider trading loophole big enough to drive a truck through, but that Wall Street is taking full advantage of it, establishing 'how-to' programs and even client service divisions to help well-heeled clients circumvent insider trading regulations.
The Latest Data: Yes, It's a Recession
There has been a lot of hand-wringing about whether or not the U.S. economy is currently in a recession. This morning's data will, I think, lead to a near-unanimous view that the U.S. economy is in a recession. Not only was employment growth in February negative, but the B.L.S. also tells us that. Link
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