Here Are the Contracts Showing How $4.5 Trillion in Stimulus Was Outsourced to Wall Street
By Pam Martens and Russ Martens: April 16, 2020 ~
Bloomberg News has an article up today with the headline: “The Fed Loves
Main Street as much as Wall Street This Time.” The article is accompanied
with a graphic of Fed Chair Jerome Powell shooting equal amounts of money at Main Street and Wall Street.
Nothing could be further from the truth. Despite the headline, the article by Peter Coy offers not a scintilla of evidence to support the premise that Main Street is getting a fair shake from the Fed. What the article does do is adopt the talking points the Fed has used in every press release it has issued on a new funding facility rollout – that the money will (through some magical and invisible and unexplained hand of the market Gods) make its way to American workers and households.