Reader Email: Lots of Confusion ... and ANGER

We asked and you're answering ... and the answer seems to be confusion and anger for the most part.

Investors of all sorts are confused by the market's gyrations. Those responding to our query about what's on readers' minds with the current situation responded ...

The Confusion ...

I have money in a CD which has horrified my financial planner for the past two years. In July I converted my retirement funds from stock mutual funds to a money market fund in the same family. Now I'm getting the feeling that the Fed is trying to force my hand to put my cash back into play somewhere. Where is the relief for responsible spenders and savers? -- Jay

One word ... Yikes! -- Al in Indiana

I am a small investor, trying to keep my head above water. Last year, I returned to school - a non-traditional student, as they say - and cut my hours to part-time status to accomplish my goal. I will not be able to return next year unless the market rebounds. I have lost enough from my personal portfolio to have funded my education two times over. -- Chris

I was nibbling at the financials because I thought they had put in a bottom, now I find the financials I nibbled at are nibbling at my bottom -- Flynn912

Should I close all my long positions, wait for this market to fall back to 10,200-10,500 and then start purchasing again, hold and lose the shirt off my back, or what? -- Michael

How and when should I attempt to rebalance my portfolio in a way that I can have some protection against future near-term drops in the market? Many of the funds I own are down 20% from their highs in October. I guess I just want to make sure that they are not all down 40% 2 months from now. -- John

I was lucky in that I have moved my retirement money (457) into a Government Bond fund in late October and have avoided any losses. My questions is: What effect does any action by the Fed have on bond prices? Thanks dudes. -- Lucky so far, Mike

(Everyone's situation is different. In some cases someone should seek the advice of a professional financial adviser. ... but readers can find some general advice here and here).

The Anger ...

And then, there is anger. Particularly at the Fed ... despite its emergency action this morning. (Of course, Big Media, other countries, and others are getting their fair share of reader licks too).

The subprime mortgage situation and high oil prices have ravaged the pocketbooks of all Americans. Greed and loose lending practices have contributed to this debacle. The slow response by the Federal Reserve has accentuated all, to the ultimate dilemma we now face.-- John

I think the Fed was wrong to step in with a rate cut. Rate cuts got us into this mess thanks to Greenspan. Let things get worked out on their own without intervention. It will be painful but quick, and we can move on and learn valuable lessons. -- James

By the time Bush and the Congress finished bickering and bargaining and come up with an economic stimulus package it will be March 2008 and the Dow would fall to an all-time low of 10,000 or worse !!! -- Dick

If ANYONE, including Bernanke and all the so-called stockmarket 'experts' think that by cutting the Fed Fund Rate once again, it is going to help, they are living in 'la-la land'! -- G.Sapp

Why Ben does not resign as it has (been) proved by the market that he is not capable of being the Fed head? Why not put Paulson to head the Fed? -- victor7300

HAVEN'T THEY REALIZED YET THEY ARE WAY BEHIND THE CURVE??? -- Amit

Some fault Bernake, but the fault lies with those who promoted and allowed the development of the sub-prime loans. Where were our "leaders?" -- Jan

With all of the liquidity being pumped into the market as well as the drop in interest rates, the long-term view of the economy will bring inflation in the years to come, will it not? ... the Fed should do nothing and let the market cleanse itself from the froth that has been accumulating for the past seven years. I believe that this housing bubble was caused by IRRATIONAL EXCUBERANCE. -- Joe W.

Why isn't THE REAL issue being addressed here? The so-called credit crunch is not the cause but a symptom of the distressed economy. The underlying cause of the meltdown is OIL. The world has no plan to use it wisely. It has fueled inflation and it depresses growth. Don't tell me oil prices will fall into a 'corrected' range with a fall in the markets. The smallest geopolitical event or the slightest pickup in business activity and it will be back above $100 again in a New York minute. -- Ross K.

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