Mitch McConnell: COVID-19 relief deal could be reached in a matter of hours Lawmakers racing to get relief and government funding package passed by midnight deadline Follow Us
Question of the Day Senate Majority Leader Mitch McConnell of Ky., removes his face mask as he arrives with Sen. John Barrasso, R-Wyo., left, and John Thune, R-S.D., right, for a news conference with other Senate Republicans on Capitol Hill in Washington, Tuesday, Dec. . more > By Gabriella Muñoz - The Washington Times - Sunday, December 20, 2020
Senate Majority Leader Mitch McConnell said Sunday that a coronavirus deal could be finalized within “a matter of hours.”
GOP Sen Toomey Praises End to Fed s CARES Lending
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Republicans push to terminate CARES Act facilities for good
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The Asset Manager Arms Race Has Only Just Begun It was a banner year for mergers in money management as the continuing fee war squeezes margins. Don’t expect it to slow down in 2021.
Brian Chappatta | Dec 16, 2020
(Bloomberg Opinion) For years, the asset-management industry has braced itself for shocks. In 2018, $369 billion poured out of long-term mutual funds in favor of exchange-traded funds, a record at the time. In 2019, the case for traditional actively managed mutual funds became even harder to make when Charles Schwab Corp. jump-started a race to the bottom among online brokerages by eliminating commissions for ETFs along with U.S. stocks and options.
Ending the Fed’s Emergency Lending Facilities: Mnuchin v. Waters SHARE
On November 19, Treasury Secretary Steven Mnuchin announced that he would sunset five of the Federal Reserve s emergency lending programs at year-end: the Primary Market Corporate Credit Facility, Secondary Market CCF, Municipal Liquidity Facility, Main Street Lending Program, and Term Asset-Backed Securities Loan Facility (TALF). His decision, expressed in a letter to Fed Chairman Jerome Powell, is based on the claim that the Coronavirus Aid, Relief, and Economic Security (CARES) Act requires that the programs be ended on December 31, 2020.
However, he also thinks that the five emergency lending programs, established under Section 13(3) of the Federal Reserve Act, are no longer needed. In particular, he contends that the mere