Earlier this week, while most of us were still trying to wrap our heads around the Fed's emergency lending plans, consumer advocate Ralph Nader fired-off an irate letter to its Chair, Jay Powell. Nader's letter didn't take issue with any of those plans. Instead, it accused Powell…
While it appears the combination of ample liquidity injections by the Fed and soft loans guaranteed by the Small Business Administration has managed to ease concerns of a looming and massive cash crunch across the economy, there is at least one group of financial firms that has…
A few days ago, in response to the Fed's March 23rd announcement that it planned to help smaller businesses through a new Main Street Lending Program, I posted an essay here about the Fed's 13(b) business-lending program—a New Deal arrangement that had the same aims. Among other…