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We like to think that when we deposit a dollar at the bank, it goes into a big vault and we can pull out that same dollar at any time. But that¿s not how the U.S. banking system works. Banks take that money and invest it to make money themselves, so cash gets spread around. This, naturally, leads to a big risk: What happens if those investments go sour? Well, you¿d be out of luck. You can¿t get your dollar back.
The Federal Reserve doesn¿t like that scenario, so it prohibits banks from putting all the cash it has on deposit on the line. In fact, the Fed forces banks to keep a portion of their assets at the Federal Reserve itself, to make sure that some of your assets won¿t get squandered if the bank¿s bets go south. These are called ¿reserves,¿ (hence, Federal Reserve. Got it? Good), and usually amount to 10% of the total cash kept in checking accounts.
These reserves are never exactly 10%, and banks like to keep a little extra in reserve ¿ not, as you might think, to make you more comfortable that they¿re in good financial shape, but rather so they can take that excess and lend it to other banks and make money off it. (They¿re banks, they can¿t help themselves.) The rate at which they make these loans is called the Federal Funds rate, which is set by the Federal Reserve¿s Federal Open Market Committee.
When you hear people chattering about how the Fed cut or hiked interest rates, this is what they¿re talking about: the interest rate banks can charge for lending money from their reserves. This begs the question: If these are essentially loans between banks, why is the Fed Funds rate so important for the rest of the economy?
Well, simply put, because loans make the financial world go round. Bank A lends Bank B $10,000 at a Fed Funds rate of 5%. Bank B then lends out $10,000 to a small business at 7%. The small business then takes that money and expands the business and hires new workers. Now someone is employed, Bank B has made interest off the loan, and Bank A is the richer for making it all happen. It¿s perhaps overly simplistic, but you get the idea. When you want the economy to thrive, you make lending cheaper.
Of course, sometimes you don¿t want the economy to thrive. In fact, you might want it to cool down, mostly to avoid money flooding the system and causing inflation. In that case, the Fed raises interest rates, making it difficult to lend or borrow.
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Wednesday, May 14, 2008
Expert Group Inc., Expert Credit Fix U.S.A.
Comtex
MIAMI, FL, May 14, 2008 (MARKET WIRE via COMTEX News Network) ----Expert Group Inc. (PINKSHEETS: EXPT) is proud to announce that Expert Credit Fix U.S.A. offers online payment system through PayPal to facilitate our sales and growth by accepting all major credit card including Visa, Master Card, Discover and American Express for payment of one of the 3 major credit restoration packages being offered, as we gear for a direct marketing campaign to assist those in need to better their credit rating. We now offer Pay online at www.expertcreditfixusa.com.
Shirley Rico states, "We are embarking on a marketing campaign to assist buyers in achieving Home ownership. For the summer we will aggressively market our Free Credit Repair Program. Here is how it works, when retaining Expert Credit Fix U.S.A. to assist in repairing individual's credit rating, Expert Financing will reimburse any expenses acquired with Expert Credit Fix U.S.A. at closing once we close your residential or commercial Loan. It is truly a win-win situation for the customer."
Please visit our website at www.expertfinancing.net and/or www.expertcreditfixusa.com
ABOUT EXPERT GROUP INC.
Expert Group Inc. is a diversified financial service company, which markets a variety of financial products and services through Expert Financing & Investments, Expert Group Title Services and Expert Credit Fix U.S.A. Expert is licensed by the department of Financial Regulations and a member of FAMB, and since inception Expert has originated over 60 million in real estate loans.
ABOUT EXPERT FINANCING
Expert financing offers up-to-date loan programs tailored to fit all borrowers' needs. The company specializes in Fannie Mae, Freddie Mac, FHA, conventional and non-conventional loans, jumbo loans, no income verification loans, commercial loans, small business debenture loans, foreign national loans, construction loans for residential and commercial purposes from rehabilitation projects to new construction; the company also offers loans for purchases, refinances, home equity line of credit and line of credit for commercial property. At Expert Financing an Expert Loan Officer can help you in finding the best Loan for your needs. Our group of professional loan experts speaks your language, including, Spanish, Russian, Portuguese, French, Italian, Hebrew and Creole.
ABOUT EXPERT CREDIT FIX U.S.A.
Expert Credit Fix U.S.A is ahead of the game, assisting borrowers with less then perfect credit to fulfill their dream of home ownership. The company offers different levels of credit restoration service to best fit each borrower needs. The service packages are tailored to service borrower with minor credit issues like excess inquiries to more challenging credit issues like bankruptcies or even foreclosures. Expert Credit Fix U.S.A. will help borrowers to restore their credit to a level where lenders will grant them credit and at a low interest rate.
Certain statements in this release and the attached corporate profile that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (I) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.
CONTACT INFO Robert Rico Robert@expertfinacing.net 305-949-LOAN or 1-877-949-3700
SOURCE: Expert Group
mailto:Robert@expertfinacing.net
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