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Mnuchin: Treasury prepared for losses on corporate aid

Wednesday, May 20, 2020   (0 Comments)
Posted by: Amanda Averch
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The Treasury Department is "fully prepared to take losses in certain scenarios" on $500 billion in aid for companies, Treasury Secretary Steven Mnuchin has told the Senate banking committee. Mnuchin also said he expects the economy to recover this year but warned of "permanent damage" if stay-at-home orders are not lifted.

Full Story: Financial Times (subscription required) (5/19),  CNBC (5/19),  The Wall Street Journal (tiered subscription model) (5/19)  

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