Mnuchin Tells Senate that the Government and the Fed are Willing to Take Losses from the Bailout– Well No Sh*t!



On May.19th, in a virtual Senate Hearing, sitting Treasury Secretary Steve Mnuchin revealed to the world a shocking secret: the government and the fed are expecting to take losses on all the artificially QE inflated securities that they purchased in this Coronavirus-Bailout!!

What a surprise!!

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(FT) “If you think people were upset about bailing out banks where the CEOs were making $50m a year, how are they going to feel about bailing out private equity firms where the CEOs make $500m a year?” said another investor.”
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