Very big PPP development—FED will buy the loans

Maybe it will make some other banks a bit less leery of the program. Some of these banks need to get off their asses and start taking applications.

Many companies have been trying to find banks that will make the loans (as they have mostly just been helping their own clients). This is a huge development - banks don’t want to make 1% loans that have a risk of staying on their balance sheet for up to 2 years.

So basically banks are getting to add directly to the bottom line on the backs of another financial crisis. I guess he who holds the gold makes the rules. fricking big banks suck.

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FED will buy the loans

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Game changer

Is it almost like someone is twisting the arm of the FED to force them to take on debt like this.

Well they don’t suck on this issue.

They may suck for their part in encouraging the trade war with China so they can invest more there as they are doing after phase 1. Trump carried the water for them and most here are happy he did so be careful running down the big banks on this site.

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China

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If it weren't for China, we wouldn't be in this frickin' mess in the first place.

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It is sort like the FED decided to go direct in the loan buying business instead of buying the T-bills the government would have issued as the SBA paid the banks for the loan forgiveness.

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They’ve completely taken Treasury out of the equation now.

Banks are nothing more than agents being paid points to originate these PPP loans.

This is huge, and not in a good way.

He is an idiot. He loves China more than his own country.

Hey IB

Only 31 years ago, the communist country of China suppressed a protest held by students in Tiananmen Square, by using the military to kill hundreds or thousands of people. (It was thousands)

The communist country you love so much uses child slave labor to produce cheap shitty goods.

The communist country you love so much just again shut down protests in Hong Kong with violence.

The communist country you love has cost the world trillions of dollars, economic crisis, and deaths because of their inaction, deceit, and possible nefarious acts with this virus. When questions were raised by individuals, they were disappeared. Individuals were welded into apartment buildings or ripped from their homes by police.

This communist country you love so much has “re-education camps” of an ethnic minority.

The communist country you love so much is the number one supporter of North Korea, a country that has a list of atrocities as long or longer than China.

How does this country gain so much of your passion and admiration ? Countless human right abuses, world economic manipulation, and third world barbarianism...that is what you support. You act as if tariffs against them that are used to level the playing field is an aggressive posturing. I hate the tariffs too. Because honestly Trump and all of us have been wrong as well. The Chinese do not deserve tariffs. They do not even deserve a seat at the table of any world trade, manufacturing, or international security debate. Shame on you and shame on everyone who supports the CCP.