Central Banks from around the world, to include the Federal Reserve, coordinated a half point drop in interest rates. This was a smart move and should have helped the markets more than it did. The fact that it didn't is just more evidence that much of what we're seeing is psychology rather than economics. After we hit bottom, there will be too many good deals that investors will no longer be able to ignore, thus the rebound will begin, because low prices sow their own seeds of recovery. Ironically, the housing market is looking quite appealing to me right now. Just need to find that down payment...
Here's two videos, one from Saturday Night Live and the other from Comedy Central's Steven Colbert, with their take on the financial crisis:
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