Well, the Federal Reserve cut the main U.S. interest rate to a target range of between 0 - 0.25 %
Clearly the FED is now ready to do whatever it takes, even if it means bailing out all the incompetent or greedy or 'too big to fail' entities there are out there!!!
Makes me wonder why the auto bailout is still on hold?????
Sooner or later we will reach a point when there are going to be just too many to bailout/save.
Remember the days when a $700Bn bailout was a Wall Street stunning event! ( actually that was as recently as Sept 2008; we clearly have come a long way !)
Right now, the FED promises to buy MBS and Agency Debt, in order to finally stabilize the US Housing market, even as the USD continues to slide against major currencies, continuing the trend of recent days.
As I write this, Gold is up $ 20 at $855.60 and the DJIA is up over 334 POINTS AT 8900!
Somethings gotta give. Its just a matter of when not if.