I was planning to go on long form about what the Fed should do, and now they have gone ahead and done it. That means I now have to write something very substantive. More on that later, but here is a roundup of some good posts:
Cassandra depicts the credit crunch as a horror movie, with the audience wondering whether another reel is coming.
Russ Winter fulminates that throwing cash at Ponzi finance won’t prevent the inevitable day of reckoning.
Long or Short Capital is predictably irreverent.
And not as predictably, so is Minyanville.
And the serious types weigh in too. FT Alphaville quotes analysts who, on the whole, are not impressed.