What Could Go Wrong? Only Danger Is The High Probability Of (Trying To) Return To A Feudal Serf System. :(

(Commentary posted by Roger Erickson)

Warren Mosler: ECB proposals to buy loans to households and companies

"This is highly problematic.
If the ECB takes the risk, there is extreme moral hazard. 

If they don’t, [it's likely that net lending to consumers] won’t increase:"

Surely there are OTHER ways to raise aggregate demand among consumers? More income? Less taxes? Less fees? Less incentives to save excessively? Yada, yada? More Public Initiative?

Who runs these countries? The public? Or the public's nominal accountants?