I found this an amusing piece--your thoughts?


A timely correction or an encouragement to further irrational exuberance? Opinion is divided on the United States Federal Reserve's decision to slash official interest rates by 0.5 per cent.

Stockmarkets around the globe rallied on the news - the cut was deeper than they had been expecting. The Fed justified it on the basis that the global credit crunch threatened to intensify the serious US housing downturn.


LINK

"I think, actually, what the Fed should do is increase interest rates, because if you analyse the cause of the problems we have today, they are due to artificially low interest rates, expansionary monetary policies and extremely rapid credit growth that was fuelled by a totally irresponsible Fed,"

Good point. It was easy credit that got us in this mess and the fed just said that it will be business as usual.

I do not know if I would go as far as calling it socialism for wall street, but I would call it a form of corporate welfare.