As I understand, Fed is lending $200 billion to big banks, allowing the "worthless" collateral of mortgage-backed securities. In other words, Fed is taking worthless CDOs and such toxic stuff to relieve the banks; but that does not dramatically hurt the Fed, does it? The operation looks like a limited debt forgiveness act to me, and it may have workable effects. What else can be done when the core problem is debt disbalance?

As for the Vietnam and other wars: 'coups of bankers' were loving wars since long times. In the US, they are running much of the show since 1913. I even wonder, how on Earth they allowed so much Keynesianism...