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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: UnBelievable who wrote (72053)2/26/2001 6:25:08 PM
From: pater tenebrarum  Read Replies (3) of 436258
 
," unless the need for immediate action "is obvious and great."
read: when both the credit markets are seizing up, and the stock market is set to crash, like in early Jan. of this year.

since credit is back to flowing freely (it's quite incredible what got financed over the past few weeks...the flood of paper was monumental), no immediate need exists. no systemic collapse is within reach at this moment in time. it may well be within reach again in a week's time, which will then provoke another Fed ad-hocism....
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