Did I mention Chairman Bernanke's philosophy of the Fed being "the buyer of last resort"? I believe I did, did I not? Well tonight we all learned what that looked like. With NO WHERE left to turn, the GIGANTIC insurer AIG fell at the foot of the Fed and begged for help. This is another tree or rock shoved in our way on the trip down to the bottom of the cliff the economy's fallen off of. It's also right in line with Bernanke's motto of "mitigating the fallout" from financial turmoil. They were convinced the markets would collapse if AIG were to go under. They were probably right. It would have accelerated what I believe is inevitable, a trip down the road of deflating assets. I believe it's a long and winding road. The Fed wants to make any trip we take down that road a slow and controlled journey, sort of like grandma on a Sunday afternoon drive. Without the Fed rescue of AIG our journey was threatening to turn into a ride in a top fuel dragster driven by Aaron Zecher (just take my word for it, right Dave?)! It's a new world folks. It's Bernanke's world and we're just living in it. I honestly don't know what's next.  Virtually anything could happen from here. I would prefer an orderly decline. It's safer to trade. Perhaps the markets will stabilize for a while. We really have to let the markets digest this and go from there.