I'm an idiot, completely unqualified. But last I remember, mortgage backed securities were what were at the center of the economic meltodown of 2008, at the center of bank/mortgage company meltdowns, at the center of the disaster.
So isn't this just another citibank/wellsfargo/etc bailout?
I apologize for being so clueles - I have little financial background - but it astonishes me that no one is questioning this.
I understand Obama has already made it clear that he will not renew Bernanke as Chairman when his term is up in 2014.
Dunno. Something going on. I'm depending on the sterling posters I follow regularly to help me make sense of what seems to me to be a completely senseless policy decision at the Federal Reserve.