"Nothing is so permanent as a temporary government program." -Milton Friedman

In its latest batch of too-little-too-late actions, the Fed is going to restrict exotic and subprime mortgages. So they're going to take them off the market now that no one will touch them with a ten-foot pole? Way to be innovative and productive Bernanke (I hate when they do pointless things just so they can claim they did something). Additionally, Ben B. said that the Fed was considering extending its program of low-cost overnight loans to the nation’s largest investment banks into next year. Yup, that was supposed to be temporary. Soon enough, they'll be teaching discount window i-banking in b-school. Sigh.