Rep. Katie Porter

@RepKatiePorter ↗

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Last Checked Jan. 22, 2021

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Fri Nov 13 17:59:51 +0000 2020

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Rep. Katie Porter @RepKatiePorter

The Fed explicitly stated that COVID relief funds would not help “insured depository institutions”—aka banks. That makes sense, since many of those banks have had record profits during the coronavirus pandemic. And we just bailed them out in 2008-2009. (2/5) https://t.co/VoUiR2wNsS — PolitiTweet.org

Posted Nov. 13, 2020

Preceded By

Rep. Katie Porter @RepKatiePorter

In March, Congress gave billions in COVID relief to the @federalreserve to help struggling businesses. The Fed pledged these taxpayer dollars would *not* bail out Wall Street banks. They went back on their word—to the tune of 2 billion dollars. So I'm calling them out. (THREAD) — PolitiTweet.org

Posted Nov. 13, 2020

Followed By

Rep. Katie Porter @RepKatiePorter

Yet, the Fed used COVID relief funding to purchase $1.3 billion of Exchange-Traded Funds (ETFs). ETFs are baskets of stocks, similar to mutual funds, and they contain billions of Wall Street's debt. (3/5) https://t.co/q2vORsOE8A — PolitiTweet.org

Posted Nov. 13, 2020