Bernanke acted way too late on this....People saw this coming from as far back as 6 months ago. The rebound in the market did help ease a little bit of the pain away, but still the insecurity of jobs being taken overseas, and the decline in the housing market is weighing in on many Americans. Read this latest article, it is interesting: US Moves to Avert Economic Meltdown
"This move by the Fed was essential," said Lyle Gramley, a former Fed governor who is now a senior analyst with the Stanford Financial Group in Washington. "Bernanke promised in a speech earlier this month to take substantive action in a timely and decisive manner."
The real question is this: Is the rate cut from the fed too little too late??
What do you think?
john: seeing what this administration has done for the city of New Orleans, that is a scary thing to wait for. be well john.