The Federal Reserve's term asset-backed securities loan facility announced Tuesday is a government effort to reward risk-taking in hopes of unlocking credit markets, Thorold Barker writes in The Wall Street Journal's Heard on the Street column. "While the details still have to be ironed out, TALF could work, particularly if investors persuade the Fed to lengthen the term of the facility beyond a year," Barker says, noting that there are some potential problems.

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