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> Keep in mind they're only able to buy US treasuries and mortgage backed securities. It's those MBS that were the real problem. Total panic on Wall Street wi
by eternalny1 7y ago
> Keep in mind they're only able to buy US treasuries and mortgage backed securities.
It's those MBS that were the real problem. Total panic on Wall Street with those, because everyone is so heavily tied into them and with all these unemployed people, foreclosures are going go through the roof.
Now that they can offload them to the Fed instead of trying to sell them for pennies on the dollar, it's all champagne and caviar back on Wall Street.
- QuesnayJr 7y agoThese are agency MBS, which are already backed by the US government, so Wall Street was already pre-bailed-out on them. They already had that champagne and caviar.
- vsareto 7y agoThere's already a 2 month freeze on foreclosures. If they give checks to Americans, it'll go to mortgages most likely. This is absolutely bonkers territory. 10,000 years from now, I wouldn't be surprised if archeologists find money between the rock layers.