The rules are, they basically look at the collateral you pledge. It's sort of like a private club and once you're in your end, the rules are kind of nebulous. You can pledge mortgage-backed securities, real estate assets, all kinds of things for collateral and then they just give you money. Which is a problem if that collateral turns out to not be so great, right?
Bloomberg News Senior Wealth Reporter Heather Perlberg talks about how a $1.5 trillion program for home buyers is propping up banks. Chris Miller, Associate Professor at Tufts University and author of Chip War: The Fight for the World's Most Critical Technology, shares his insight on the latest news from the volatile semiconductor industry. Dr. Ellen Wald, President of Transversal Consulting, discusses Saudi Arabia’s pledge to shave an extra 1 million barrels-a-day from its production in July. And we Drive to the Close with Lisa Erickson, Head of Public Markets Group at U.S. Bank Wealth Management.
Hosts: Carol Massar and Matt Miller. Producer: Paul Brennan.
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