Now the Fed can do it to stocks as a class in the name of an objective as trivial as keeping most of the schmoes employed, adding insult to injury by leaving your fund trailing the market.
"Overzealousness about trivial risks gives health and safety a bad name but there are actually many more cases where people are under-hitting, " said Roger Bibbings, occupational safety adviser for the Royal Society for the Prevention of Accidents.
Robert Solow was once asked (by a very famous mathematician whose name I have forgotten) whether there was anything in the social sciences that was not obvious or trivial.