Borrow From the Fed!

Well, not exactly.

The Federal Reserve on Tuesday rolled out a much-awaited program aimed at boosting the availability of credit to consumers and small businesses.

The Fed will lend up to $200 billion to spur consumer lending — for autos, education, credit cards and other consumer debt. The money will be used to provide financing to investors to buy up the debt.

What will actually happen is that banks will lend the money to you, and sell the paper to the Fed. It's another Structured Investment Vehicle (SIV) with the Fed as buyer.

I suppose that will replace Household Finance, which will be closing in the near future.