From everything I gather the rate cut either 25 bps or 50 bps is more about establishing confidence than anything else. Just throw some money at it and the credit markets will loosen up sums up the argument here. Housing is wave that rose, crested, and crashed. There is no turning back now regardless of what the FED does. Mr. Orange (mozillo) said so himself. The FED will cut but here is what has much stomach twitchy right now……The US Dollar is cratering, it broke 80 and never looked back……Gold is racing to 750…..Oil is pushing $80. That is what the market is telling the FED if it lowers interest rates. Damned if you do, Damned if you don’t.