Updating this post ! http://www.elitetrader.com/vb/showthread.php?s=&threadid=131993 if the FED was a six shooter, its low on ammo !
#6 Fed gives the automakers $50 billion as they are about to fail (soon) under the cover of "congress giving them loans" #7 Fed takes over WaMu and Wachovia in an attempt to avert further sub prime problems #8 Fed cuts the Fed Funds Rate .50 to save the market from a crash