25 votes

Former Fed Quantitative Easer Confesses, Apologizes: "I Can Only Say: I'm Sorry, America"

"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.... We were working feverishly to preserve the impression that the Fed knew what it was doing... 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.... Having racked up hundreds of billions of dollars in opaque Fed subsidies, U.S. banks have seen their collective stock price triple since March 2009. The biggest ones have only become more of a cartel: 0.2% of them now control more than 70% of the U.S. bank assets. As for the rest of America, good luck..... The implication is that the Fed is dutifully compensating for the rest of Washington's dysfunction. But the Fed is at the center of that dysfunction.

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Monetizing US debt is no way

Monetizing US debt is no way to go through life son.

I like Ron Paul's answer the best

We owe that debt to who, they're nobody!

Apology accepted. Now pay us back for the damage...

have done.

If you now testify against your colleagues, you can keep just enough to support yourself and your family and you can have front row seats when we execute your unrepentant Fed members for debasing the currency, as prescribed WITHOUT EXCEPTION by the Coinage Act of 1792.

The Quality of US money has

The Quality of US money has been destroyed.

Dear Mr. Huszar,

Seldom have I been so challenged by the no-swearing rule here. The problem with you is humanity just hasn't yet invented enough of them for you.

Be brave, be brave, the Myan pilot needs no aeroplane.

You mean giving wall st banks

You mean giving wall st banks free money for shitty MBS enriches wall st banks?

Dang, this guy IS a genius! No wonder bennie the printer hired him to run the program!

I must be willing to give up what I am in order to become what I will be. Albert Einstein

Now that the Fed turns 100, "being too young" is no excuse.

http://youtu.be/BGLR25EJtfE">The Fed: Loaning you blind, since 1913. 2 minute apology set to music backed with photographs.

Cut their power.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

What a clasic tune

sung by a classy lady.

Surviving the killing fields of Minnesota

Todays brainwashing: GMO's are safe