Obama is Bush part 3

A Fed Rate Hike Won't Solve the Current Crisis

You are overlooking that many of the problems we face today are the direct result of interest rates being lowered too much for too long...

The argument for lowering rates is to stimulate the economy-- but you can't fix overleverage with more leverage

Meanwhile, interest rates that are markedly below the rise in the cost of living (not necessarily the textbook definition of inflation) means that you are taking money away from savers (aka the elderly and others on fixed incomes) and diverting that money to stupid bankers who shot themselves in the foot.

Punishing the prudent to reward the foolish is no way to fix anything