US Treasury Secretary Steven Mnuchin speaks at a State, Foreign Operations and Related Programs Subcommittee hearing on "Department of the Treasury Budget Request for FY2021" in the Rayburn House Office Building on Capitol Hill March 11, 2020 in Washington, DC.WASHINGTON – Treasury Secretary Steven Mnuchin told senators Tuesday that both Treasury and the Fed are "fully prepared to take losses in certain scenarios" on the capital remaining to be distributed from the CARES Act.
In his opening remarks, Mnuchin acknowledged what he said were, "unprecedented challenges the American people are experiencing due to the COVID-19 pandemic. This disease is impacting families and communities across the nation. Through no fault of their own, the American people are also enduring economic challenges."
"We have worked closely with the Small Business Administration on the Paycheck Protection Program to ensure the processing of more than 4.2 million loans for over $530 billion to keep tens of millions of hardworking Americans on the payroll," Mnuchin said, according to his prepared remarks.
*We* are fully prepared to take losses? We? Who is 'we'? Is Mnuchin fully prepared to take losses from his own bank account? It's easy to accept losses on behalf of other people's money - the American tax payer.
Elect a clown, get a circus
By 'We', you mean WeThePeople and we are not thrilled with that idea, but understand...that said, there is a lot of financial housekeeping you can do on the expense side, waste side, corruption side and management side that can perhaps offset those ChineseVirus Losses
WTF?! HE is not taking a loss on anything!
nothing new to see here......
So in other words, 'we are fully prepared to keep increasing national debt and deficit at an alarming rate and dont care if we do that.' Fiscally 'responsible' repubs.....
Trumps Taj Mahal of America... he is the king of debt!
Just so we are clear, who is “we”?
Easy to say when it's not his money.
So what you are saying is we are fully prepared to sacrifice our future generations benefits to bail those too big to failed sectors or big corp? This doesn't sound right to me.
As in we he means taxpayers.
trumps good with taking losses