Friday, November 15, 2013
From the horse’s mouth: QE is a scam
Andrew Huszar, responsible for the Fed's massive bond-buying programme says "I can only say: I'm sorry, America. As a former Fed official, I was responsible for executing the centerpiece program of the Fed's first plunge into the bond-buying experiment known as (QE). 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." "Fed managers began voicing the concern that QE wasn't working...Our warnings fell on deaf ears." He had worked for the Fed before but had "left...out of frustration, having witnessed the institution deferring more and more to Wall Street"