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Caroline Baum

Fed Easing Is Better Than the Alternative

The assertion that quantitative easing did nothing for the economy isn't supported by the facts.

Remember Greg Smith, the Goldman Sachs employee who resigned from the firm last year via an op-ed in the New York Times? Smith endured Goldman's money-grubbing culture that ripped off clients for 12 years before he found religion.

Today's confessionalcomes from a gentleman named Andrew Huszar, a senior fellow at Rutgers Business School, who says he was summoned back to the Federal Reserve in 2009 to orchestrate the purchase of $1.25 trillion of mortgage bonds in 12 months.