Surprisingly, companies with market power can use money to make money. This is The COVID-19 Daily Report for September 17, 2020.
Federal Reserve
Posted inCoronavirus
Unsanitized: The Fed Is Overpaying Banks and Hedge Funds for Corporate Bonds
Plus, the Problem Solvers step up with a dead-on-arrival bill. This is The COVID-19 Daily Report for September 16, 2020.
Posted inEconomic Policy
How Aid That Congress Approved in March Is Bottled Up by Steve Mnuchin
The terms imposed by Trump’s Treasury secretary keep hundreds of billions from reaching Main Street businesses and state and local governments.
Posted inEconomic Policy
Student Loan Giant Navient Reaps Backdoor Federal Reserve Subsidy
Securities based on the student loans Navient owns are eligible for purchase through a Fed rescue program. Already $218 million has been scooped up.
Posted inTAP
Fiscal Follies in the Biden Campaign
Today on TAP: Biden shouldn’t listen to the usual deficit hawks
Posted inCoronavirus
Unsanitized: The Fed Can Still Save State and Local Governments
Plus, more postal turmoil. This is The COVID-19 Daily Report for August 13, 2020.
Posted inCoronavirus
Unsanitized: The Fed’s Emergency Lending Programs Are Killing the Planet
Also still no deal on a relief bill. This is The COVID-19 Daily Report for July 31, 2020.
Posted inCoronavirus
Unsanitized: How the Federal Reserve’s Thumb is on the Bailout Scale
Also, updates on Social Security and debt collectors. This is The COVID-19 Daily Report for July 24, 2020.
Posted inCoronavirus
Unsanitized: Why Is There a Deadline on PPP Applications?
Plus, the Fed gives the game away. This is The COVID-19 Daily Report for June 18, 2020.
Posted inCoronavirus
Unsanitized: Growing Pressure on the Fed to Save State and Local Governments
The central bank is too busy with asset inflation when state and local budgets are in crisis. This is The COVID-19 Daily Report for June 16, 2020.