>https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm
I guess since #45 tucked the FED under the US Treasury they cans just send $26 trillion to other countries this time to paper their crisis over. Kind of like an audit. But, not an audit.
When banks are forced through regulations to lend to subprime borrowers based on diversity, equity and inclusion they are still lending to subprime borrowers. They then play hot potato to offload these bad assets to government backed programs for a service release premium. When liquidity dries up you don’t want to be holding the hot potato. The losses from 1 bad loan held while they are holding the loan trying to get the government to insure it and take it off their books can wipe out the annual net profit of a small banks mortgage or business lending department that did the loan. Banks will stop lending. If they try to strengthen underwriting credit and cash flow requirements the government auditors will consider it redlining or discrimination and fuck the banks proper.