The new $600B of quantitative easing goes into the banking and corporate sector of the economy who is largely sitting on the largest cash balance in business history. They don't need the money at all and its not the sector of the economy who is going to take our unemployment rate down from 10-15%. Those who need the stimulus money the most, small business & private investors, can't get it. Seeing a company like General Motors go public again makes me want to puke. I can think of 100 other companies who deserve to be public companies before GM and that create far more future value, jobs and innovation in our economy. GM going public is simply a private equity, government money and investment banker ponzi scheme.
I was a apart of one the largest business boom cycles in the late 1990's and there were a lot o great things about that time the US Government, FDIC and Fed have forgotten. Investors were pouring money into Venture Capital funds that were providing funding to companies who were providing real long term jobs and creating new markets of innovation. Much of this money came from the Government in the form of FDIC subsidies and they made lots of money for taking this risk. Once the bubble burst and hedge funds drove the market 80% lower there was no optimism or money left in the VC industry to spark new growth. The VC industry has shrunk drastically in the last decade and almost 80% of the VC funds not based in Silicon Valley are virtually out of business (aka "the living dead funds").
Capitalism in general is kind of a ponzi scheme but it can be done organically if the IPO market is fair and open. Capitalism also works when Government regulatory agencies stay out of our way and don't favor big business monopolies. I think if $100B in stimulus for struggling VC funds this would create another boom of optimism that we need. The Fed and FDIC should also consider an Emergency Fund to fund to solve overweight population epidemic that is slowing the US economy down. Here are a few other ways President Obama could help create jobs.