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MORTGAGE DEFERRALS - SHAMEFUL!
Almost from the beginning of the COVID-19 health crisis, the Federal Reserve has been pumping billions of dollars into the financial system. Some call this a gift to hedge fund managers but that's not accurate. What it does is make money available to the banks at virtually no cost so that they can keep loaning money out to businesses. Without these loans many companies - particularly the smaller ones - would risk going bankrupt, resulting in massive unemployment and financial loss. According to JPMorgan Chase, over 99% of all companies in America are small businesses that create the vast majority of jobs in the country. So, these infusions are a good thing - besides the loans are repayable to the Fed.
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Dr. Denis Cauvier and Alan Lysaght
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