Unsanitized: The Federal Reserve Loads the Cannon by David Dayen March 27, 2020 Plus, the value of unions. This is The COVID-19 Daily Report Prospect.Org "First Response As we’ve discussed, the bailout package scheduled for a vote in the House today includes $454 billion for the Treasury Department to hand over to the Federal Reserve. (This was initially $425 billion but they topped it up in the final bill.) That money could then be placed into a “credit facility” and levered up 10-1, creating a $4.5 trillion money cannon aimed at the largest corporations in America. ..." Read More.. . Comment: This is just a continuation of the 2008 Playbook that did not work! Consider the Law of Diminshing Returns for Deficit Financing . The FED during 2008 initial spending on the new idea of QE(Quantitative Easing) which is little more than starting up the printing presses, creating Trillion...