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The Fed's Bailout Strategy
The bailout is essentially the Fed stepping in and saying, hey, even though these bonds are worth 85 cents on the dollar, we'll buy them at a dollar from you. It's effectively pausing reality for banks so that they can get money and be liquid. Once you go down a path like this, you cannot go back. I mean, yeah, the taxpayers, not only on the hook, like civilization is on the hook,. You know what I'm saying? Like, this is so much bigger than the taxpayer," he said.
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