The Main Street Fakeout: The Fed’s terms suggest it really doesn’t want to lend to small companies
Main Street is just less important to the planners in Washington. It’s much easier to deal with Wall Street and small business lacks power in in the halls of the Treasury, The Capitol, and The Federal Reserve.
(From The Wall Street Journal)
The Main Street facility should be set up to provide immediate and ample liquidity to all comers on relatively simple terms against good collateral. Instead the Fed is offering scarce and delayed cash under terms that will let banks and the Fed pick winners and losers.