Minerd Says Fed's Main Street Lending Program > A 'Disaster'

The banks got a big windfall, but they don't want to take a big loss underwriting securities being the first guarantor of loans for small businesses. The question is more in combination with The Treasury where there will be losses getting money into inner-cities and minority-owned businesses
Oct.09 -- Scott Minerd, Guggenheim Global chief investment officer, says the Federal Reserve's Main Street Lending Program intended to aid small businesses impacted by the pandemic has been a "disaster." 
He speaks with Bloomberg's Sonali Basak on "Bloomberg Markets: The Close."

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•Oct 9, 2020