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The Fed's quantitative easing mostly helps the well-heeled and well-connected

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The Federal Reserve’s policy of creating tons of new dollars by buying up financial assets is creating winners — and it’s not the middle class or the poor. Reuters explains that the Fed’s buying spree has driven up the price of subprime bonds, making some investors rich, while not helping the subprime borrowers who defaulted in the housing bust. The Fed’s current program is...