Why the Federal Reserve cut rates yesterday? The move pumps money into the economy. The lower rates frees up money for banks to lend more money to small businesses and and individuals. Cheaper rates allow the banks to loans to less credit worthy applicants, because the cost of the loan is cheaper. More credit will allow the housing market to come back.
All of that seems good.
Query: Isn't that what got us into trouble in the first place?
Yesterday the Fed lowered the prime rate to 1%. I seem to recall the same rate fueling the housing bubble, the mortgage fraud business, and causing our mailbox to be stuffed with credit card offers. We just spent a trillion dollars to erase those bad loans, and not a month later we're starting the cycle all over again?
It just doesn't seem right to me.
Are you a new lawyer, facing your first trial? Nobody wants to lose their first trial. (Fact: we lost our first two, and won our next 50 or so.)
As the Federal Blog reports, Federal Court (land of the hung juries) just may be the place for you. You might not get a Not Guilty, but a hung jury is better than going right to sentencing.
Here's why we don't handle civil cases. Check out the South Florida Lawyer's Blog's 3rd DCA Watch. Some lawyer and a Judge re-set a hearing. The other side went ballistic (civil lawyer's motto: "going ballistic at $450.00 and hour as long as the client will pay.")
Letters (ending with "kindly act accordingly") started flying back and forth, followed by motions, and finally the whole mess ended up in the 3rd DCA with the Big Man himself. Rudy Sorondo arguing the brief for one party. There was a decision, and a dissent, and as you read the whole sordid mess on the South Florida Lawyer's Blog, keep reminding yourself: this is over scheduling a motion.
Over in our humble building, if you're upset when a case is scheduled, you just go see Judge Blake. If Terry (his JA) can't help you fix it, then Stan sends the parties to Judge Newman who just clonks their heads together like Moe did to Larry and Curly and sends everyone on their way. It works.
Go hang those juries and drive Federal Judges nuts.
See You in Court.