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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