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In its latest effort to energize consumer spending and rev up the stagnant economy, the Federal Reserve Wednesday slashed a key short-term interest rate by one-quarter of a percent to
stanley becher its lowest level since 1958. But the Fed s decision didn t boost Wall S
stanley cup treet, where many investors were hoping for a half-point cut, as the Dow Jones industrials fell nearly 100 points.The Dow Jones industrial average closed down 97.69, or 1 percent, at 9,012.16, having gained 36.90 on Tuesday. Earlier in the day, the blue chips rose as much as 51 points.The broader market also finished lower. The Nasdaq composite index slipped 2.98, or 0.1 percent, to 1,602.63. The Standard Poor s 500 index fell 8.03, or 0.8 percent, to 975.42.Fed Chairman Alan Greenspan and his Federal Open Market Committee colleagues reduced the federal funds rate from 1.25 percent to 1 percent, the lowest level in 45 years. The funds rate ndash; the interest banks charge each other on overnight loans ndash; is the Fed s main lever for influencing the economy.The vote was 11-1 with Fed member Robert Parry dissenting. He favored a larger, half-point reduction in the funds rate.The action marks the first reduction to the funds rate since November a
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At last, fans of the Game of Thrones TV series fully understand the anguish that readers of George R.R. Martin novels have long since suffered. Why Why do these terrible things happen One reason is that Martin source material is equally brutal and horrific. Here are 10 sources that Martin drew on for his epic fantasy tale. Top image
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stanley cups uk ere for those who aren ;t up to date with the TV series 8230; 1 Hadrian Wall The massive wall that protects Westeros from the Wildlings and the Others is based on the very real Hadrian Wall. As Martin said in an 2000 interview: Well, some of it will be revealed later so I won ;t talk about that aspect of it, but certainly the Wall comes from Hadrian Wall, which I saw while visiting Scotland. I stood on Hadrian Wall and tried to imagine what it would be like to be a Roman soldier sent here from Italy or Antioch. To stand here, to gaze off into the distance, not knowing what might emerge from the forest. Of course fantasy is the stuff of bright colors and being larger than real life, so my Wall is bigger and considerably longer and more magical. And, of course, what lies beyond it has to be more than just Scots. 2 J.R.R. Tolkien Lord of the Rings You probably won ;t be surprised to hear that Martin borrowed a lot from Tolkien for his epic fantasy series. Both the idea of a
stanley cup 8220 econdary world, in which c
