Context: Fed purchased $1.5T in bonds from banks with the understanding that the banks will buy these assets back, with interest, in a short amount of time. This was *not* a free handout. But it does keep the banks running smoothly.

(sorry for stealing your beat, @BadEconTakes)

— Neoliberal 🌐 (@ne0liberal) March 12, 2020

You fucking dipshit, yes this is how it works but the point that people are attempting to make about these bailouts (and yes, they are bailouts) is that the same consideration was not given to homeowners during the Great Recession and is not being given to student debtors now. The banksters and their companies have been given every chance, every advantage, with direct and indirect bailouts, the ability to make free money with low-interest loans which they then loan out at 10-100x the prime rate, all while people’s homes were foreclosed on and they were left with nothing.

Now tell me what happens if, say, a student loan debtor were to be bailed out, even absent absolving them of the loan altogether (which is what actually should be done). It’d be something like the government taking over the loan and converting it to a 40-year loan with a 0.5% interest rate. For a typical 10-year non-deferred student loan debt of $50,000, that’d make a $600 monthly payment go to $115. (And the loan would become de facto cheaper over time as the interest rate is below inflation.)

That’s something similar to what the banks are allowed. The above is also then not a free handout, but I am sure this self-professed neoliberal fuckstick would be opposed to it. I hate “smart” people.