Bernanke to ‘deploy all tools’ except the right ones
March 08, 2009 at 23:28 PM EDT
[Skip to the end] The right tools have yet to be deployed: Lending to member banks on an unsecured basis (demanding collateral is redundant). Providing banks with term financing at rates set by the FOMC (mortgage rates, etc. can be directly set as desired). Prohibiting bank sales of financial assets (buy and hold only and no interbank markets). Instead we [...]