Markets

Boston Fed Chief Eric Rosengren blames Wall Street for slowing small-business recovery efforts — and warns that sluggish stimulus progress could cripple the economic rebound

Boston Federal Reserve President Eric Rosengren blamed the nation’s largest banks for the lack of activity in the Main Street Lending Program. The program can provide up to $US600 billion worth of credit to small and mid-sized businesses, but only less than $US5 billion has been used. “None of the […]
Boston Fed Chief Eric Rosengren blames Wall Street for slowing small-business recovery efforts — and warns that sluggish stimulus progress could cripple the economic rebound
Markets

Billionaire investor Chamath Palihapitiya unloads on the ‘wasted’ first round of economic stimulus, and laments the unnecessary funding of ‘zombie’ companies

Famed VC investor Chamath Palihapitiya told CNBC that a lot of the first round of economic stimulus was “wasted” because companies didn’t allocate it properly and still laid off hundreds of thousands of employees. The Social Capital CEO said that the US needs to focus on increasing the direct amount […]
Billionaire investor Chamath Palihapitiya unloads on the ‘wasted’ first round of economic stimulus, and laments the unnecessary funding of ‘zombie’ companies