For a lender, the ideal loan is one where [a] there is greater certainty in cash flows, [b] there is a "creditworthy" borrower with a long-term track record, and [c] there is an asset to seize in case of default. QE's fiercest detractors have often argued that the size and scope of QE would result in massive and uncontrollable inflation. This is especially true given the zero-bound rate environment, where QE results in lower interest rate spreads.