It's not 98', not 02'. Subprime crisis is not a pleasant topic but certainly can be solved by personal investments, not by government policy. Investors know what they buy is something real, something is going to pay-off, not deteriorating Asian currencies, not Internet bubbles. But they are just cunning. They would hold on fire until they feel the bottom, i.e., when they can maximize benefit from the crisis.
The only problem is how they do the timing and whether a catalyst is needed. That's the point of interest rate decrease. More psychology, less so-called economics.
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