“...bail out the financial biggies...”
Cutting the fed funds rate will move hundreds of millions of dollars from the pockets of credit card and mortgage companies into the pockets of consumers. (That’s you and me.) You don’t sink the entire citizenry of America in a misguided attempt to punish “biggies” who will be fine in any case. I don’t care if a “financial biggie” is worth $700 million or $750 million. I do care that 70 million families can lower their credit card payments and mortgage payments by a couple of hundred bucks a month.