There is an amazing, astounding op-ed in the Wall Street Journal. A Federal Reserve employee involved with the $1.25 trillion in mortgage backed securities purchased back in 2009 has confessed. He spills the beans on how quantitative easing has made the super rich even richer while doing almost nothing for main street. Here's an excerpt:
ECS is the emergency communications system for seventeen states, with plans to add seven new states this year. ECS estimates it holds 40 percent of America’s state-chartered banks as its users.
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