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ahosai · 1488 days ago · link · · parent · post: Fed to buy corporate bonds, ETF's and mortgage backed securites.
The Fed is also loaning to "Small Businesses" in several sectors who can back the loan with $10-$100 billion in assets. These loans are non-recourse. So businesses with more than $10B in assets can borrow from the Fed with no intention of paying them back. This feels like a direct bailout for Billionaires. https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20200323b3.pdfNon-Recourse: Loans made under the TALF are made without recourse to the borrower, provided the requirements of the TALF are met.