The problem is that credit assets (all those mortgage-backed SIVs & CDOs) aren't trading. So the Fed is doing what (little) it can to encourage the market in t

The problem is that credit assets (all those mortgage-backed SIVs & CDOs) aren't trading. So the Fed is doing what (little) it can to encourage the market in those assets to function again. Ultimately, though, it cannot force people to take on risks they don't want, so even a large rate cut like this one may not make a difference in this climate.