On what authority? Neither Section 13-3 nor 14 allow it, and those are the only applicable portions of the Federal Reserve Act involved. There were no provisions in CARES for this. Intentionally. This would be a real-time violation of the law.
@ChrisVanHollen @federalreserve
@ChrisVanHollen @federalreserve
YES. the Fed is SAYING that 13-3 gives authority, but it DOESN'T. If the Fed buys junk bonds, what POSSIBLY ensures "that the security for emergency loans is sufficient to protect taxpayers from losses"?
JAIL. THEM. ALL.
Help workers. Don't socialize private investment losses.
JAIL. THEM. ALL.
Help workers. Don't socialize private investment losses.
