Notably compared to the 2008 program, this time around they allow dealer banks to take out cash loans using... equities.. as collateral.
Dealer goes bust, market takes a huge hit, and the collateral value shrinks in correspondence to that hit. Madness. And still the markets have barely even sniffed at these announcements.
I expect before this is all over, POTUS will be making those daily coronavirus livestreams wearing fancy dress and cracking jokes just to keep people interested, because they've already spent every last drop of substance in the opening weeks of what promises to be a 6+ month journey.
Dealer goes bust, market takes a huge hit, and the collateral value shrinks in correspondence to that hit. Madness. And still the markets have barely even sniffed at these announcements.
I expect before this is all over, POTUS will be making those daily coronavirus livestreams wearing fancy dress and cracking jokes just to keep people interested, because they've already spent every last drop of substance in the opening weeks of what promises to be a 6+ month journey.