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FRONT PAGE  |  8/22/2017
SATURDAY, NOV 16, 2013
Former Fed Official “Sorry” for QE Looting of Public to Enrich Wall Street
With the growing national outcry over the Federal Reserve’s so-called “quantitative easing” (QE) scheme to enrich Wall Street by conjuring trillions of dollars into existence to prop up mega-banks, at least one former high-ranking official at the U.S. central bank issued a heartfelt public apology. Writing in the Wall Street Journal, Andrew Huszar, who managed the Fed’s $1.25 trillion mortgage-backed security buying spree until 2010, explained in detail how the deeply controversial plot served mostly to enrich big bankers and financiers — all at public expense.

“I can only say: I'm sorry, America,” Huszar wrote this week about his role in fleecing everyday Americans to shower the big banks with more loot. “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.” The ...


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www.thenewamerican.com

Response to economic crisis?
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