They not just puked: Last month some CDOs showed the odds of a default by an investment- grade company spreading to others exceeded 100 percent -- a mathematical impossibility, according to UBS AG.
WTF IS A RATE CUT GOING TO DO????????????? Nothing. Rates are already rock bottom. Banks won't/can't lend. Thank the incompetent Fed Reserve and Bush Administration for presenting us with major inflation and a recessionary economy. Happy fucking trails.
Eventually, the FED's only ammunition left will be the printing press. Those who see this bear market as being over haven't lived very long. We will go up, we will go down, whatever. But it ain't over by a long shot.