Fed Lowers Benchmark Rate Half Point to 4.75%; Dow 2.5% Off Record Close Was Off 8.3% in Mid-August; 91 of 92 Financial Stocks are Higher, 28 of 30 Dow Stocks are Higher, 96% of S Third Time in Six Days Dow Has Risen 100+ Points
Hovnanian CEO: Cut Could Improve "Buyer Psychology", "Cut is Good Start", Wants More; Toll CEO Says Maybe Fed "Has Righted the Ship", Rate Cut Won't Bring Back Subprime Loans
Interview with NAMB President George Hanzimanolis; Lenders Sent Record Notices of Default; California Had Most in U.S. at 41,714 New Foreclosures; U.S. Brokerages May Drop to 35K by End of 2008, According to Wall Street Journal
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