Treasury official is running the bailout. It’s been great for his family

This is the same whether it is mortgage backed securities or treasuries too.

I would consider this faux controversy because exactly what kind of person would be a better steward of these decisions. The "revolving door" is funny to see how ridiculous it can get, but really who of the citizenry would be better prepared to steward these organizations? What exactly would the pedigree of that person look like?

The Fed was ALWAYS going to be forced to buy corporate debt as it expanded the universe of eligible assets. This was predictable no matter who at the Treasury negotiated with the Fed that "the time is now".

To me, the only controversy would be the tax implications of the sham transfer of his stakes in his company. But actually, we don't even know if they neglected the taxes and it probably isn't a real issue for them as they'll just report it and try to offset the tax footprint just like everyone else.

If it wasn't corporate debt, it would be mortgage backed securities, or leverage up on treasury bonds, or even higher leverage on currencies. There are always information asymmetries and that isn't controversial, except in single issues of companies in the securities market.

These articles would have a lot less bit if Congress were looking after the working man as nearly as well as Treasury and The Fed are looking after the investor class.

My beef is not necessarily with the investor class, and its protectors, but I believe the rest of us need someone effective looking after our interests as well.

This reads like something that normally would be written about an underdeveloped country, which, lacking established institutions and rule of law, is run by a kleptocracy for the kleptocracy. Yet we're talking about the United States. It's embarrassing for the country on so many levels. Unbelievable.

Who is lobbying congress? The investor class is certainly among those who are. The working man certainly isn't.

If you're unhappy with your representatives, there are elections coming up in November.

> Today, Muzinich retains financial ties to the firm through an opaque transaction in which he transferred his shares in the privately held company to his father.

It's a top gov official using the exact same scheme as Tiger King.

And that is even before any of the 3trillion part even begins.