Federal Reserve Rains Money On Corporate America

But Main Street Left High And Dry

Here we go again... big bank bailouts while the little guy gets the shaft...

Bill Gross will be one of the few to benefit from the Federal Reserve's announcement this afternoon.

The legendary money manager, who oversees more than $1.2 trillion at Pacific Investment Management Co., stands to profit off the plan hatched by the nation's central bank. The Fed announced that it will buy between $850 to $900 billion of U.S. government debt, also known as Treasuries,

When it comes to helping Wall Street and corporate America, the Federal Reserve spares no expense.

It expanded its authority and bailed out securities and insurance firms. It tethered the main interest rate to zero. It more than doubled its balance sheet to $2.3 trillion by purchasing mortgage-linked securities and U.S. government debt. To arrest the free-falling economy and jolt it back to life, the nation's central bank has engaged in an unprecedented campaign to ensure banks have cash and corporations access to credit.

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