
Stop the $6T Coronavirus Corporate Coup - nennes
https://mattstoller.substack.com/p/stop-the-6-trillion-coronavirus-corporate
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asdfasgasdgasdg
> Authorization to bail out money market funds, multi-trillion dollar
> unregulated bank-like deposits for the superrich.

A puzzling characterization of money market funds.

> Authorization for the the government through the Federal Deposit Insurance
> Corporation to guarantee trillions of dollars of risky bank debt.

Hrm . . . normally the FDIC guarantees _deposits_. It's in the name. It's also
congruent with the previous point. What bank debt is this referring to? Is he
sure that the FDIC isn't just guaranteeing a larger limit on deposits?

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oneru
Written by someone who doesn't understand how the Federal Reserve works.

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jnwatson
I don't follow. Unless you're firmly on the MMR bandwagon (which is still a
small minority position among economists), printing money and giving it to
corporations is ultimately allocation of capital that doesn't go to other
productive uses.

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polotics
MMR? Do you mean Modern Monetary Theory aka. MMT?

