Investors to Fed: Thanks for nothing

[sweeps]

One of the core principles of the U.S. medical profession is the Hippocratic oath, the most famous part of which is "Do no harm." It's too bad that the governors of the Federal Reserve Board don't have to take such a pledge when they assume office, because their recent interest rate cut has done a lot of harm to those of us who've managed our finances prudently.

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[Aleta]

What an informative article. Thank you for sharing. I, personally and I'm not a professional, felt like 50 basis point were too much. If they felt a cut was needed, they should have started with 25.

Yes, they are right about bailing out the wrong people. It's becoming our governments mantra. That's why I said the other day, that I would leave about $10 in ING, just so they have to pay something on interest. I moved it to Emigrant and the transfer will take place Monday.

Why should we keep our money in these accounts that act on a overnight rate cut. They could have at least waited 7 days.