Egan Announces 1/4 Point Rate Cut
In these difficult times, Americans need to make sacrifices. And that’s exactly what our very own Egan Foote did today, when he announced a quarter-point rate cut on his outstanding loan to The Nine co-star Scott Wolf.
“Hello, ah, Egan here. The recent sharp increases in subprime mortgage loan delinquencies and in the number of homes entering foreclosure raise important economic, social, and regulatory issues. Today I will address a series of questions related to these developments. Why have delinquencies and initiations of foreclosure proceedings risen so sharply? How have subprime mortgage markets adjusted? How have Federal Reserve and other policymakers responded, and what additional actions might be considered? How might the problems in the market for subprime mortgages affect housing markets and the economy more broadly? Yada, yada, yada. Ole Egan might not be a great economist like Mr. Ben Anker or Al Greenspine, but he WILL do his part for the good of the American economy. It is with this in mind that I announce a quarter-point rate cut on the interest due to me from my outstanding $12.50 loan that I made to Scotty Wolf when we went to go see the Simpsons Movie this summer. Egan, out.”
Um, thanks, Eeegs.