Fed lending programs may get more funds, but not airlines: Treasury's Mnuchin

FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin answers questions during the daily coronavirus task force briefing at the White House in Washington, U.S., April 21, 2020. REUTERS/Jonathan Ernst

“I didn’t want to allocate all the money up front,” Mnuchin said on a Zoom chat. “I wanted to leave some money in reserve to see how each one of these programs did, to see if the programs needed more money and to see if we needed to do more programs.” Later Wednesday, Fed Chair Jerome Powell described the unspent Treasury funds’ role as standing in front of the Fed’s losses.

“So, what I would say is if we look at this, we think there are certain scenarios where we’ll get our money back, there are certain scenarios where we’ll lose all of our money and there are certain scenarios where we’ll make money,” he said.

Ok,

Oil and Gas are getting it 🙄

Can government help me went I make bad trades ?

As tragic as the situation is, all that result from countless climate summits does not add up to 1/10 of the virus has done. It tells you that humanity never act out of virtue; necessity is the only driver in human history!🙄😁😏

They miss manage so much money. It really makes me wonder why we even have a poor class if we have this much to play with why not lift the poverty line to liavble

Airlines, cruiselines (not registered in the US), publicly traded businesses, businesses with more than 10 locations: These don't deserve SBA loans. They abused the system, and those who refuse to give funds back earmarked for actual small businesses should be fined. A lot.

sundene Mnuchin always looks like he’s doing bird calls.

Airlines must go to banks, state money must be used by citizens. Avianca LATAM_CO EasyflyVuelos CopaAirlines

You will be out of a job. He likes the airlines

Where is pop Culture Star, Dr Birx? And her scarf? Seriously, that's what the people need to hear about

It's all just going to end up in the coffers of the corporations listed on Wall Street. Let's not kid ourselves here.

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