Fed cuts rates; crisis over?

[Patrick Bond]

> BTW, whatever happened to the Japanese idea of giving each citizen a pile
> of money that only had value if it were spent immediately? was this totally
> shelved and replaced by the bail-out of the banks?
> Jim Devine jdevine at popmail.lmu.edu &

I was wondering about this too; it was the lead headline in the FT of 
6 October.

On the interest rate cut, Doug, I'll share with you that airplane chat 
comment from Stiglitz, the day after Greenspan's (9/29) first 1/4% cut 
(paraphrased):  "That won't make any difference at all to profit 
rates or investor expectations anywhere -- it's just to show that 
someone has a hand on the tiller during the storm."

                      Patrick Bond
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