Read on Twitter
Unbelievable that Democrats would let this hold up a deal. The Fed facilities have almost exclusively fattened the wallets of the investor class, and the central bank has tools to undertake muni lending anyway. (which it won't as it's ideologically opposed) https://twitter.com/brianschatz/status/1339940634837303298
The "Main Street Lending Program" Dems are trying to save is mostly an oil and gas lending program. https://bailoutwatch.org/analysis/mslp-november-analysis
The Fed officials in charge of state/local lending are completely conflicted with the muni bond industry, and the result is that it's made two (2) loans. https://prospect.org/coronavirus/unsanitized-how-muni-bond-market-preventing-economic-recovery-federal-reserve-mlf/
The corporate bond buying is facilitating private equity dividend recaps and a host of other distortions. Also the vaccine is anchoring expectations, making this superfluous. https://www.wsj.com/articles/risky-loans-secure-private-equity-payouts-despite-downturn-11608216781
At least rhetorically speaking, proceeds from the money cannon are being distributed to people who need it. I can’t think of anything less worth fighting for. https://prospect.org/coronavirus/unsanitized-slice-money-cannon-into-money-for-people-stimulus-federal-reserve/
Also, @brianschatz isn't really being straight, rescission of the Fed programs was always in this package, including the bipartisan deal Dems said was the framework for negotiations.
Seriously, we're worried about Fed lending they've proven institutionally incapable of doing, when unemployed people are going to get hit with a big tax bill next year? https://prospect.org/coronavirus/unsanitized-tax-time-bomb-unemployment-benefits-taxed/
