Treasury Secretary Mnuchin defends the $500 billion federal lending program for large corporations, which came without many strings attached
helped encourage "stability in the markets." It's run by both the Treasury Department and the Federal Reserve.
Under the program, the central bank is set to buy up to $500 billion in bonds issued by the large corporations. But the businesses are required to pay it back with interest, and they're exempt from rules compelling them to maintain job levels. The program also doesn't require companies to limit dividends or executive compensation.
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