CNBC/Jeff Cox
“As the Federal Reserve moves deeper into its purchases of corporate debt, it faces more questions about the consequences of its unprecedented market interventions. Disclosures filed this week surrounding its credit facilities show the Fed is not only buying the bonds of struggling companies hit hard by the coronavirus pandemic but also some of the stalwarts of American industry …”
USAGOLD note: Good question …… Creative destruction is banished from markets. Moral hazard is running at all-time highs. Financial wizardry rules the day.
Repost from 6-30-2020
