From the Wall Street Journal:

"The Federal Reserve continued its two-front attack on the credit crunch with a steep rate cut, and hinted at more to come.

"The cut was less than financial markets wanted. But in a sign the Fed's prior efforts to boost lending through unconventional means may be getting some traction, stocks soared, buoyed by earnings reports from two big investment banks."

As for me, I am going to hold out until the Fed starts paying me to borrow money.