At least part-- and that's the most conservative view possible-- of the current financial situation is a function of loose credit in the recent past, that misplaced capital needs to be culled from the economy...
...so we're going to add more?
New economics? Anyone? Bueller?
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If the last four or five rate cuts didn't help, I don't get how this one will either. We are still trying to put a band-aid (a large, expensive one with Hello Kitty or Spiderman on it) on a bullet wound. I think we're beyond trying to make any reasonable sense out of this issue. Note that it hasn't even been a month since Lehman failed.
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