As BlackRock gets appointed to oversee bailouts to companies including BlackRock, how do we make an insane moment lead to good?
The U.S. Senate passed $2 trillion in stimulus. That includes a one-time $1,200 check to impacted individuals and….you guessed it, billions and billions for corporate relief. Included in that are hundreds of billions of dollars in corporate bond buying programs. The Federal Reserve has recruited asset management giant BlackRock to administer three of those programs.
Here’s the kicker. As Bloomberg describes it: “Under the arrangement [BlackRock] could buy some of its own funds on behalf of the central bank.”
Outrage is running rampant, and to help listeners sort through it, @NLW is joined by Meltem Demirors, chief strategy officer at CoinShares. In this conversation, they discuss:
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