FORCED MISALLOCATION: The Fed is propping up companies it had warned banks not to touch
FORCED MISALLOCATION The Fed is propping up companies it had warned banks not to touch https://t.co/ldmmIBMCiP — Win Smart, CFA (@WinfieldSmart) May 5, 2020 For years, the Federal Reserve warned that too many highly risky companies were engaging in fuzzy accounting that bumped up their earnings — making it easier for them to obtain loans. … Read more