US Wall Street/Fed insider: QE is a scam

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We wanted to get this story out fast and shockingly, this was the ONLY video we could find on the subject.

Hopefully, more will appear soon, but this is one to track right now.

Andrew Huszar went from the Fed to Morgan Stanley as a managing director and then was asked by the Fed to come back to manage the nuts and bolts of QE I which amounted to the Fed's buying of toxic junk mortgage bonds to the tune of $1.25 trillion.

Wouldn't you like to be able to sell all your dogs to the Fed at full price?

I know I would, but the privilege is only available Wall Street banks.

Why was this done?

"To save the credit markets...to make sure that credit was available to Main Street."

Huszar states and I agree that this is total bullshit!

They buybacks did nothing for the average person, have artificially suppressed rates (which is ruinous to savers), and concentrated bank assets even more intensely in the top banks. Five or six banks now control 70% of al the bank assets in America.

If you haven't read his "Confessions of a Qualitative Easer" you can Google it and find it readily.

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Wall Street/Fed insider: QE is a scam

Managed the $1.25 trillion mortgage buy program

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The program was for the top banks only