Fed Official: QE is greatest backdoor Wall Street bailout of all time.

trew

trew

Active Member
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Ex Fed Official, Andrew Huszar, that ran the QE bond buying program writes in the Wall Street Journal


We went on a bond-buying spree that was supposed to help Main Street. Instead, it was a feast for Wall Street.

I can only say: I'm sorry, America. As a former Federal Reserve official, I was responsible for executing the centerpiece program of the Fed's first plunge into the bond-buying experiment known as quantitative easing. The central bank continues to spin QE as a tool for helping Main Street. But I've come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.
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http://online.wsj.com/news/articles/SB10001424052702303763804579183680751473884
 
Relevant commentary by guest of Greg Hunter

[youtube]http://www.youtube.com/watch?v=usahyL0rNNU[/youtube]
 
Said it before a dozen times. the REAL purpose of QE is to BUY US TREASURY BONDS!

The MBS purchases are certainly a bail out of sorts, but those Bonds MUST be sold, and the Fed is just about the only buyer.

The more Bonds they (the USG) need to sell, the more Bernanke/Yellan will PRINT! Think US$700 TRILLION if the derivatives fall in a hole.

JMO



OC
 
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