So what is the policy in detail? Are they buying all the securities -what about the dead securities? What implication does this have for those foreclosed on - since the mortgages will now be paid???? or will the mortgages be paid? AND HOW WILL THIS HELP ANYONE other than the banks who already have mortgage insurance, have settled with the government officials for fraud, and acknowledged fraud within these securities. Can someone explain this ..??????
Fed risks political fallout from QE3 - FT.com: "The US Federal Reserve was always going to catch a few political bullets if it launched an aggressive new easing only eight weeks before a presidential election.
Mitt Romney, the Republican candidate, duly opened fire on Friday after the Fed began an open-ended third round of quantitative easing (QE3), under which it will buy $40bn of mortgage-backed securities a month.
In some of the most aggressive comments he has made on the Fed, Mr Romney said QE3 was nothing but a “sugar high”, and would fail to get the economy moving.
“Recognise that, as the Federal Reserve keeps on trying to stimulate the economy by printing more money, that there’s a cost to that,” said Mr Romney in remarks at a fundraiser."
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