The Fed cut short-term interest rates by a 1/4-point today, down to 2%. At the rate these have been coming, The Fed is going to be paying banks outright to hold our loot by 2009.
I could rant for some time about how the Fed helping out the very banks that created our current economic mess is the very last thing the country needs, but in the dual interests of brevity and my mood for the evening, I will withhold that.


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