The Federal Reserve Is Lending Directly to Corporations

The base gets 500 billion dollars for corporate bale outs of various kinds. Defense contractors, companies that classify as important a national security, they're getting sort of direct grants. And then there's left overaa, 454 billion dollar bucket of money that is kind of almost symbolic. It's basicallyt its being used to back stop loans at the federal reserve. For the first time in this and this crisis, for the first time, the fetus is lending directly to corporations.