de ja vu, page-99

I don't think Fed is likely to cut rate any soon then March 18. They will let the market take it course this time.

The end of the subprime issue is no where the end. If they cut rate too early, it may save 1 -2 session of fall but will have nothing left to cut in their darkest hour.

So far only about 150 Billion lost was reported, UBS predict the figure may be as high as 600B...we have still awhile to go before the dust settle.