The asset-backed securities to be funded under the programme are pools of credit card receivables, automobile loans and student loans.
Most excellent, I am going to start the ER-CDO fund. I invite all of you who still own ISM/OSM to become partners. We will then knock on the door of the Fed to borrow money using our ISM/OSM bonds as collateral. Not sure if we will be getting 0% interest or more like the 5% that most banks are getting, either way it is less than ISM/OSM even with 0% current inflation. If Sallie Mae goes under, we will dissolve the fund, Uncle Sam gets the ISM/OSM bonds and we get bailed out of our dumb investment. If Sallie Mae stays in business we get the spread between the Fed interest rates and Sallie Mae.
What the heck am I missing?