QE vs. Velocity

Most of us have heard about QE2 more that we would like over the past few weeks.

Today -- a "liquidity trap" is sited as a reason for QE2.

It is hard for me to understand why the Fed is focusing upon the amount of money available vs. velocity of money.

Let's give people (hopefully private sector) incentives (and the laws/regulations and confidence) to spend. Let's get money into productive assets (rather than money for the treasury and for offering leverage to companies like Microsoft).

I suppose the Fed could use some help from legislators to better achieve this though.