Larry "Kuds" Kudlow, advocating the socialisation of the US home lending market --
the Fed should expand its open-market purchases of collateral to include non-government mortgage-backed securities, jumbo mortgages, and asset-backed commercial paper, along with the more typical Treasury and government agency paper which includes Fannie and Freddie paper. This will help get the new cash into the places that need it the most. It’s a buck-shot approach, not a clean rifle hit. Unusual and cumbersome perhaps, but necessary I think at the present time.
So more of a Cheney-style hunting mthod than those zero collateral damage operations of the US in Iraq. Whatever works.