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About $200 billion will be invested in opening up consumer credit lines, and about $600 billion will be invested in buying mortgage-backed securities. I'm really not clear on any of the details here.
-Who will the primary benefactors of the $200 billion for consumer credit be? Small businesses and entrepreneurs? Home buyers? Poor people just trying to make ends meet? Middle-class people looking to finance a new car or home theater?
-We're not really just buying $600 billion in toxic mortgages, right? The article says we'd be buying mortgage-backed securities. How secure are such securities? Who are we buying them from? Why are we doing this?
I agree we need to get the economy back on track. It's stagnating right now. People who need loans can't get them, and people who have money are hoarding it instead of spending it because they're worried about job security. Is this the right way to do it?