Merrill Lynch begs Fed for rate cuts to solve their problems

So another Wall Street icon is caught up in the subprime lending bubble that is bursting and they want the Federal Reserve to cut rates to save their business. And cutting rates will do what? Encourage more bad loan deals? Merrill Lynch was thrilled to jump into the subprime lending market and take part in the easy credit feeding frenzy but despite their big name and supposed credentials they fell for the one of the worst economic ideas in decades. Merrill Lynch should have enough bright minds to have known better so I don't see why the Feds should disrupt the market to bail out their bad business plans. If Merrill Lynch is this stupid, maybe they are in the wrong business.