This is the most unequal policy of the Feds. We have barely entered a bear market, circuit breakers haven’t even kicked in yet, and they are already planning to save the rich who own most of the stocks.
Pick winners and losers, both when they decide what stocks to buy (and not buy), and when they pick to save those who have their funds in stocks (vs. those that don’t).
So much for the free markets, eh?
Secretary of the Treasury Mnuchin called the largest banks to check on their liquidity levels today. Tomorrow the Presidents Working Group on Financial markets will convene.
Naturally, hilarity ensued: