Fed stuck with $2.7T in toxic MBSs from 2008 bailout, can’t unwind without crashing the real estate bubble. Homeownership dream dead for under-35s, thanks to Keynesian Fed policy
In 2008, the Fed came to the rescue of the Wall Street banks that caused the 2008 crash by transferring $2.7 trillion in toxic-waste Mortgage Backed Securities (MBSs) from the banksters to the public ledgers. Now it can’t offload these …