Andrew Huszar has an insider view of QE:  He managed a 1.25 trillion MBS (mortgage backed securities) purchase program for the Fed.  Before that  (until June 2012) he was Managing Director and U.S. head of over-the-counter derivatives client clearing for Morgan Stanley.  He was interviewed Friday 21 December 2013 by Merlin Rothfeld and John O'Donnell on Power Trading Radio.

Huszar says that initial QE was tremendously successful but as it continued it amounted to "papering over the real problems".  Hear the rest of what he has to say in the following 35 minute interview.