>Unpunished...for what? What are the crimes? Wire fraud. Illegal since 1872. >Please elaborate. QE pushed up the value of assets which had plunged in value.

>Unpunished...for what? What are the crimes? Wire fraud. Illegal since 1872. >Please elaborate. QE pushed up the value of assets which had plunged in value. Assets which were used by the banks as collateral for loans which were now bigger than the value of those assets and were going bad very quickly. That made those banks what is technically known as "insolvent"... until the stealth bailout. >Do you know the academic origins of QE? Monetarism. You can place the blame squarely at Milton Friedman's feet for QE, not Keynes. Keynes advocated fiscal expansion, not funny money tricks to reduce interest rates below zero. Milton Friedman was firmly of the opinion that tweaking interest rates was enough to successfully manage any economy. Clearly not so much...