By Sunday evening, when Mitch Mc, Connell forced a vote on a new costs, the bailout figure had expanded to more than five hundred billion dollars, with this huge amount being allocated to two separate proposals. Under the first one, the Treasury Department, under Secretary Steven Mnuchin, would apparently be offered a budget of seventy-five billion dollars to offer loans to particular companies and industries. The second program would run through the Fed. The Treasury Department would provide the reserve bank with four hundred and twenty-five billion dollars in capital, and the Fed would utilize this cash as the basis of a mammoth lending program for firms of all sizes and shapes.
Information of how these schemes would work are unclear. Democrats stated the new costs would offer Mnuchin and the Fed overall discretion about how the cash would be distributed, with little transparency or oversight. They slammed the proposal as a "slush fund," which Mnuchin and Donald Trump might utilize to bail out favored business. News outlets reported that the federal government wouldn't even need to recognize the aid receivers for up to six months. On Monday, Mnuchin pressed back, stating individuals had misconstrued how the Treasury-Fed collaboration would work. He might have a point, but even in parts of the Fed there might not be much enthusiasm for his proposition.
during 2008 and 2009, the Fed dealt with a
