Ben, You Always Cease to Amaze Me

Let me ask you a coupla three things Benjamin:

Do you think the credit market is better or worse today than it was after dot-com bust/9-11?

Do you think the global economy is more or less impacted by the credit crisis than it was post dot-com bust/9-11?

Ok, if you aren't a complete idiot, you answered yes to both of those questions. Now for my third question:

THEN WHY THE *(*(*( HASN'T THE FED CUT RATES TO AT LEAST POST 9-11 LEVELS TODAY? CONFIDENCE IS MUCH WORSE. THE CREDIT MARKET IS WORSE, AND DIRECTLY BENEFITS FROM FURTHER CUTS. IT SAVES THE MORTGAGE RESET EVEN MORE THAN A BAILOUT. AND LOWER RATES HAVE A PERFECTLY NEGATIVE CORRELATION TO HOUSING PRICES, THEREFORE IMPROVING ASSET VALUATIONS AND HELPING THE BANKS AVOID MASSIVE BALANCE SHEET SHRINKING.

"Hey Ben, where do you get your balls!?"

Hope you enjoyed your black tie lunch the other day.