THE EXTRA QUARTER BEING AN ADMISSION OF GUILT (via mc):

Fed Cuts Key Interest Rate (Neil Irwin, 9/18/07, Washington Post)

The Federal Reserve cut a key interest rate today, aiming to prevent turbulence in the housing and credit markets from slowing the U.S. economy.

Having hiked rates to artificial heights thanks to irrational exuberance...

Posted by Orrin Judd at September 18, 2007 2:15 PM