[sjtindell]

That 700 billion was Treasury money. The Fed at the time also engaged in trillions of dollars of quantitative easing, similar to what they’re doing now. I would guess the reason the Fed is going all in this time is because there was consensus among the decision makers that last time we were too slow - we did QE but it took years. I assume they think that if we hit it hard now, we can shorten the recession period. Also this time there is more unified and obvious support from “the people”. Rather than bailing out bankers and all the hazards that come with that, everyone is getting a check, so everyone is more on board.

[systemshutdown]

Interesting. What is the difference between Treasury Money and money coming from the Federal reserve? Was the 700 billion of Treasury money at that time a loan that had to be paid back while today, they're simply increasing the money supply?