Despite the rate cut, the market ended lower. S&P ended lower as Fitch cut the ratings for FGIC Insurance. I guess Fitch ruined Fed's party.
Anyways, what happens if there is a big drop in markets now? Do we get another emergency rate cut?
I was dissapointed in Ben B. What bothers me is that they are openly saying "Financial markets remain under considerable stress." Why not just buy the futures to support the market? Oh, I forgot they do that too.
Can't wait to see how the markets open tomorrow.
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