Wealthy and the connected so when weve already covered the trillions going to the banks instantly and the fact that the ordinary person is struggling to read well you know waiting desperately for the stimulus checks to arrive to them the measly little ones you know when the fed is buying these collateralized Loan Obligations you have to realize that 81 percent of them are owned just by j. P. Morgan Wells Fargo Bank of america and citibank just those 4 banks own 81 percent of it so those are the guys getting bailed out by the fed in the meantime u. S. Housing j. P. Morgan chase to raise mortgage borrowing standards as Economic Outlook darkens it just got harder to buy a house from tuesday this week customers applying for a new mortgage will need a credit score of at least 700. 00 and will be acquired to make a down payment equal to 20 percent of the homes value but this is the mantra. Saying concept one of fairness as it relates to the economy and its not really baked into the american
Get even without International Just going to that michael kay in moscow ok well lets start with the latest numbers then on the outbreak because confirmed cases have now passed 2300000 more than 159000 people have died from the virus and most of those fatalities are in europe and the u. S. So far just over 591000 patients have recovered from the disease. Now the outbreak in germany does appear to be under control half a month long locked down according to the countrys Health Minister germany has a much lower death rate than other major European Countries and restrictions on movement are being partially lifted with some shops reopening next week however a Government Spokesperson has stressed that caution is needed skip. The statistics there are no guarantees that the infection kovel keep flattening out there are also risks when we take these small careful steps into opening up we must keep an eye on the infection curve and what it means for our Health System and our hospitals. As in many
Traders are concerned about the swelling global glut and the lack of storage. The skies are darkening over japan as the coronavirus bomb the dimmest view on the economy for a decade. We have that this hour. Shery breaking news at the moment. We are hearing from treasury secretary mnuchin saying the u. S. Has no current plans to create a Federal Reserve facility to inject funding into nonbank or gauge servicers. This of course as we have seen recent government moves to help the firms get through the risk of borrowers missing their mortgage payments. Again, treasury secretary mnuchin saying he has no plans for lifeline. Lets now bring in our congressional government reporter, emily wilkins, on the line for more on what we heard from President Trump as well as Vice President pence on the latest efforts when it comes to handling the impact of the coronavirus pandemic. Emily, so secretary mnuchin saying that he has no plans for mortgage servicer lifeline. He says the steps are taken by agen
United states in the meantime were getting a lot of vitamin d. Were hanging out in the sun outside we have a new report little image here and let us know if you like that but there is something that was in the news a remarkable screen grab from c. N. N. B. B. C. Jim cramers show mad money and it was the epitome of it was basically just one image told the story of a 1000 episodes of chrysler in part what weve been talking about this entire time and heres a tweet can tell on f. X. And it shows the image from c m b c in the background from jim cramer you can see the dows best week since 1938 and at the bottom along the cairo on more than 16000000 americans have lost jobs in 3 weeks as weve been saying for a number of years and it does relate to the content of fact and what does that mean that means that every time the government announces a 6 trillion dollar bailout that means a 1000. 00 for the top 101 percent and a dollar for you and thats the cantillon effect the hedge funds and the pr
Fairness that weve seen. Since the intervention is fed days so say in 1907 when the plunge Protection Team and Alan Greenspan came to the rescue of the the bad bets made on wall street chicago. And ever since and weve had more and more and more unfair system it starts off a little bit unfair and as we see like a little change of direction way back then in history becomes a huge gap we see that with the wealth and income gaps and we see that with every single crash and the subsequent bailouts gets worse and worse towards the very wealthy and the connected so when weve already covered the trillions going to the banks instantly and the fact that the ordinary person is struggling to read well you know waiting desperately for the stimulus checks to arrive to them the measly little ones you know when the fed is buying these collateralized Loan Obligations you have to realize that 81 percent of them are owned just by j. P. Morgan Wells Fargo Bank of america and citibank just those 4 banks own