Just posted the following at the Federal Reserve Bank of Atlanta's Dave Altig macroblog post

"...it is a fool's game to tie the merits of a policy action
to a short-term stock market cycle.

But at first blush it does certainly appear
that Wednesday's announcement
of coordinated central bank actions to provide liquidity support
to the global financial system
had a positive effect."

Dave Altig,
senior vice president and research director
at the Atlanta Fed
.
.
Could the second statement make you appear a bit foolish?
.
.
"It is at least interesting that this most recent Fed action
occurs as criticism of its past actions
to address the financial crisis has once again arisen.

...the Bloomberg article includes commentary
broadly supporting Fed actions,
even if not all details of the implementation."

Dave Altig,
senior vice president and research director
at the Atlanta Fed
.
.
Were there crimes committed Dave?
.
.
"...doesn't the record at least provide some support for a case
that the Fed used reasonable judgment
with respect to its lending decisions
and acted as prudent steward of taxpayer funds
even as it took extraordinary measures
to address the worst financial crisis since the Great Depression? "

Dave Altig,
senior vice president and research director
at the Atlanta Fed
.
.
No.