The Fed just threw half a trillion dollars at the market today to try to prop up stocks and the market just gobbled it up and went back to going down.
That’s $500 billion dollars.
For scale, Obama injected $80 billion and saved the entire auto industry.
That’s $500 billion dollars.
For scale, Obama injected $80 billion and saved the entire auto industry.
I am too ragey to butcher an explainer on this but the Fed didn’t ‘bail out’ anyone. They didn’t give away money. They threw a half-bil at buying back their own debt - which is supposed to free up cash for debtholders.
This was not a giveaway. It was a failed stimulus.
This was not a giveaway. It was a failed stimulus.
*half-tril.
