Finally, a plan that frontally-attacks bank profits in order to help the worldwide economy.
Flatten the yield curve and support MBS! Should have been done in 2008/2009.
The banks have two choices now: 1) go out of business, probably prior to mid 2013 or so, or 2) lend money with Fed support for home buyers and refinancers.
A brilliant "force majeure/major" or however it's said in French!
Maybe Ben read our recent post proving the math about the prior yield curve!!!!!
