The latest cut by the Feds to the interest rate isn’t exactly being met with open arms and glee. CurrencyTrading.net posted a list of reasons we should be critical of the Federal Reserve including several that are fairly obvious:

• Warning signs ignored The argument: Early subprime whistleblowers, including a senior Fed official, tried in vain to elicit a reaction from the Fed. It’s true that the Fed should never act as a regulator, but it could have easily called for lending reform. … and …
• Reward for bad behavior The argument: …Fed policy in the wake of the economic slowdown seems to reward it [bad behavior]. Financial stocks have been justifiably hammered in recent months, but the Fed’s recent economic interventions are tailored to bailing them out first.

My personal mortgage lender appeared last night and this morning on Channel 2 News talking about how the rate cut doesn’t necessarily equate to a rate cut on home loans - that there are a lot of factors that come in to play (credit score! type of loan!) when financing a home.

Mortgage rates fell Thursday, in the wake of another federal rate cut, but not necessarily because of it. “People automatically think that because there is a federal rate cut there is a mortgage rate cut. Quite honestly they don’t correspond to each other,” Scott Matuk, broker with First Community Mortgage, clarified Thursday.

Finally, Miranda at the Loan Shak found a parody of what the rate cut means to “everyday” people.

Here’s a link to the vid! (Note, Ginger the techno-savvy one has embeded this video below for your viewing pleasure).

I’d love to save a thousand a month on my four million dollar properties. Ha.