bond market
Jim Cramer Explodes,"Market Meltdown, Armageddon etc!"
Cramer begs for Bernanke to open the discount window, because all those people who couldn't afford the mortgages they were sold to buy the houses that cost too much that distorted the market now can't pay. People he won't name are phoning him and telling him this is bad, it's an armageddon for the bond market...
Oh really, why not report all this was going to happen back in 2005?
The tirade was as theatrical as it was reactionary as it was too late, really....
Addendum, August 8, 2007: thank-you Ben Bernanke! The Fed left the overnight funds rate unchanged; seems they decided battling inflation was more important than propping up some hedge funds and the housing market.
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