http://www.businessweek.com/investor/content/feb2010/pi20100226_589467.htm
This was written in Febuary of this year.
Really how was the FED's purchase of 1.2 trillion dollars of Mortgage backed securities actually going to help this country out?
The answer: It wasn't but it did cover up the exposure of the FRAUD that the banks comitted.
Collusion.
The Federal Reserve is a private entity, not a government entity and should and can be seen as such, in light of the bank cover up.
The Treasury is also chin deep in regards to it's collusion with the investment banks as well as the FED.
America's housing market implosion was the epicenter of the Great Recession. It's hardly surprising that the federal government directed enormous resources at the market. Besides bailing out vulnerable banks, the federal government nationalized mortgage behemoths Fannie Mae and Freddie Mac, opened the lending spigot at the Federal Housing Administration (FHA), passed a first-time home buyers' tax credit, and established a mortgage modification program for troubled homeowners. The Federal Reserve embarked on a $1.25 trillion purchase of mortgage-backed securities in an effort to engineer lower mortgage rates.
