The Fed is now where mortgages go to die. Thousands of mortgages on homes that do not exist or on homes that have more than one “first” mortgage are now going to the Fed to disappear.

US NEWS-

Since it began operations 98 years ago, the Federal Reserve System has performed functions that are vital to the financial system. Yet the fact that the Fed now plays some important roles doesn’t show that the Fed is the only institution capable of playing those roles, much less the best at doing them. In fact, history shows us that private institutions have been more capable at carrying out many of the Fed’s activities. As the Fed begins a new and indefinitely large round of quantitative easing, it’s time to consider whether the Fed, compared to its alternatives, has been doing more harm than good.

[USNEWS]