He cut on AUG expiry 50 pts <a href="http://bigpicture.typepad.com/comments/2007/08/fomc-statement.html" target="_blank">http://bigpicture.typepad.com/comments/2007/08/fomc-statement.html</a> We tend to forget about ancient history. My money is be long at the close of market Thursday so easy street money can be made premarket with S&P settlement. Isn't that all that rate cuts are about flying in the face of inflationary prospects It fattens the financials bottom line with wider spreads.