The Fed is there only to serve banks. It cares nothing for the rest of us...

The Fed Has Spoken: No Bailout for Main Street
Ellen Brown

The Federal Reserve was set up by bankers for bankers, and it has served them well. Out of the blue, it came up with $12.3 trillion in nearly interest-free credit to bail the banks out of a credit crunch they created. That same credit crisis has plunged state and local governments into insolvency, but the Fed has now delivered its ultimatum: there will be no "quantitative easing" for municipal governments.

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http://www.huffingtonpost.com/ellen-brown/the-fed-has-spoken-no-bai_b_808094.html