Saturday, August 2, 2014

Man Who Executed QE1 Exposes True Horror Of 2008 Collapse

kingworldnews.com / August 1, 2014
Today the man the Fed called on to execute QE1 and who also set up the Fed’s massive trading room, former Fed member and former Managing Director at Morgan Stanley, Andrew Huszar, for the first time exposed the true horror and magnitude of the 2008/2009 collapse.  What he had to say will shock KWN readers around the world.  Below is what Huszard had to say in this remarkable interview.
Eric King:  “Andrew, people forget but you were on Wall Street at the time of the 2008/2009 collapse.  And you were literally called upon by your bank to go in and access those emergency funds (from the Fed).  How hairy was that, those emergency meetings?”
Huszar:  “I actually left the Fed in early 2008, after 7 years there, and I was on Wall Street for about a year and a half before I went back (to the Fed) to help with QE.  And those were hairy days.  That’s the perfect adjective you were using in that we were desperately trying to figure out what stuff, and I could use other words than ‘stuff,’ we could pledge into the discount window at the Fed to get emergency funds to keep the lights on in the morning.”

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