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Trump will announce OIL BAIL OUT PROGRAMS next week. Secretary Mnuchin says not a bail out.

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(edited)

Treasury Secretary says they are not bailing out the industry.  BUT THEY ARE.

Comes down to two programs.  It is more so a bail out of the banks, hedge funds and private equity funds that hold the loans and bonds and indirectly the oil firm's themselves.  

 

These programs will be the same as (1) 2008 - 2009 when the Federal Reserve buying all the worthless mortgages from the banks in and then packaging them up and reselling them to their buddies for pennies on the dollar.  JUST LIKE HUNTER BIDEN AND CHRIS HEINZE (with no financial background) WERE ALLOWED TO BUY $130 MILLION OF FED BUNDLED DISCOUNTED MORTGAGES AND STUDENT LOANS UNDER THE TALF PROGRAM. (2) Or like the Savings and Loans Crisis of the 1980's. Where assets were bought for pennies on the dollar. 

The Covid-19 Crisis is a blessing in disguise for Banks, hedge funds and private equity funds that hold the $200 Billion in debt of these zombie shale oil firm's 

NOTE: Hunter Biden wasn't the only connected person that bought up the collateralized assets in 2009.  Mnuchin's hedgefund did also on a much bigger scale than Hunter. 

https://www.worldoil.com/news/2020/4/29/trump-may-announce-loan-program-for-oil-companies-this-week

Edited by BLA

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