This is the key bit. While the programs in question have only provided credit in the region 18bn, the Treasury's 'first loss' protection is well in excess of that: $96bn (with 2x10bn still remaining in place for other facilities yielding the $116bn total)
H.4.1 consolidated statement of condition of all fed banks...shows that the total to be 116bn. how is that different from the 18bn.
So, does anybody actually has a good sense about what Mnuchin/GOP would like to do with the money? Is the goal to get rid of the Fed facilities, or to reappropriate the funds (about $250bn 'unused')?
1/ Druckenmiller's first mentor, Speros Drelles, would often tell him that "60 million Frenchman can't be wrong." Here's a thread on what that means and how to know when you should listen to or ignore the "Frenchman" (market)...
$TSLA is on the outside looking in, as the S&P 500 adds $ETSY this month #TheHangover
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