American voters are the real morons. We had GW and his Republican gang for 4 years and then decided to give them another 4 years. His oil and war buddies are laughing all the way to the bank.
.."This is how market shows that fed is useless at this time. Further cuts will not help at all."... The low fed funds gives gives the banks more MARGIN, so they make more money to replace there losses. Banks privatise profits and socialise losses. Nice Busines model !
not this time since they hold all the crap paper they cant get rid of. sure it would restore the margins if there was a decent bond insurance market to allow the banks to move the stuff.. ABK is supposed to all of a sudden become solvent if it floats 2.5 bill. of dilutive paper aint happening.