The Richter Scales: Men Who Blog

Tuesday, September 18, 2007

Did Bernanke watch our music video?

These are the facts:

1. Last week, on September 13th, we (The Richter Scales) released our music video "Fine Line: Sub-Prime Decline" (pictured below).

2. In said music video, at time index 01:29, we implore Ben Bernanke, Chairman of the Federal Reserve, to "cut rates" by "50 bips."

3. The financial term "bips" is an abbreviation of "basis points" (1/100th of a percent). 50 bips would be half of one percent.

4. Today, the Federal Reserve lowered the key lending rate by 0.5%.

These are the facts, and they are not in dispute.

Feel free to draw your own conclusions.

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