What's The Holdup?

clipped from prudentbear.com It was understood at the time that our fledgling central bank had played an activist role in fueling and prolonging the twenties boom - that presaged The Great Unwind.  Along the way, this critical analysis was killed and buried without a headstone.  I believe the Bernanke Fed committed a historic mistake this week – compounding ongoing errors made by the Activist Greenspan/Bernanke Federal Reserve for more than 20 years now.  I find it rather incredible that Discretionary Activist Central Banking is not held accountable – and that it is, instead, viewed critical for the solution.  Apparently, the inflation of Federal Reserve Credit to $2.0 TN was judged to have had too short of a half-life.  So the Fed is now to balloon its liabilities to $3.0 TN, as it implements unprecedented market purchases of Treasuries, mortgage-backed securities, agency and corporate debt securities.  And what if $3.0 TN doesn’t go the trick?  Well, why not the $5 or $6 TN Bill Gross is advocating?  What’s the holdup?