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"it will be spread to an even smaller group of people" I'll point out, the Democrats are fighting hard to ensure that the rescue money is spread to a very broa
by lkrubner 7y ago
"it will be spread to an even smaller group of people"
I'll point out, the Democrats are fighting hard to ensure that the rescue money is spread to a very broad section of the public. With enough public pressure, Congress can be pushed to ensure that there is more rescue money made available, and also that the money should be distributed to the broadest possible spectrum of the public. We can look at the mistakes made during 2008 and promise ourselves that this time we will get things right. We all have the moral responsibility to fight and ensure that our government helps everyone through this crisis.
Meanwhile, the Fed has an obligation to make sure that there is no absolute breakdown of the credit markets. The Fed felt it necessary to inject some money into specific markets to ensure they continue to function (the repo market, in particular). But to whatever extent that money might help a narrow section of society, Congress can offset any unfair benefits granted to participants in those markets, by ensuring that money is also given to other sections of society.
- thoughtstheseus 7y agoThe fed has stepped into the repo market, commercial paper, money market, primary corporate bond, secondary corporate bond, consumer ABS, they're backing payroll lending through banks, direct lending to sub 10,000 employee companies through banks, municipal debt, treasury market, MBS market, expanded swap lines and foreign bank repos to provide dollars internationally all to ensure financial markets function. They're busy.