Fed Moves to Free Up Credit for Consumers - WSJ.com
Why such a tortuous and costly scheme? Why not simply let the fed lend the money to consumer directly. In conjunction with the IRS, individual taxpayers account can be set up in the same manner as some of the the I-bonds where individual taxpayers can borrow directly from the treasury. Setting this up on an Internet architecture would make it relatively straightforward and stimulate the economy faster than any other mechanism.
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