> They can buy all the bonds they want but they can't make
> the banks lend out the cash.
... or make people want to borrow. Unlike, say, expanding Freddie and expanding the Making Home Affordable program to more than just a token number of decently credit-worthy people.
> Until that changes, QE2 is bupkes.
... or worse! :-) It certainly will continue to hammer the dollar.
/jordan