Democrats are ok with giving out fewer stimulus checks to american households. A sprawling financial company called green silk capital is preparing to file for insolvency in the u k. And its subsidiary bank in germany is the subject of a criminal complaint by financial regulators. There also, credit swees has frozen billion dollars worth of funds linked at greensill.
Democratic leaders have reached a compromise on a deal that would limit who is eligible for $1,400 stimulus cheques. Plus, the FT’s capital markets correspondent Robert Smith unpacks the rapidly unfolding saga behind Greensill Capital and why the supply chain financier is on the verge of filing for insolvency.
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