and slapping and carrying on like let's get all these kids to commit suicide it's disgusting michael pentel your thoughts and maybe the pension plans are buying this stop because they can't make any money if you want to buy a a treasury bond or muni bond you're going to make your 7 percent or 8 percent random or requirement your you have your assets impaired your obligations are now 20 percent in any and 20 percent funding rate that's so maybe you as a pension holder or betting that hurts a bankrupt corporation can issue stock and make you whole and this is this was right at the doorstep it's right in the lap of mr powell you know here's the thing is going to happen we have a dramatic this cliff coming in the fall ok you know we had it's reach $3.00 trillion dollars of. the pendennis relieved then that house just passed another 3 trillion dollars package that has yet to be approved now both parties want it surely dollar infrastructure package i mean how much more debt are we going to ed what is assuming that we have some time semblance of this bill 7 washington state then we're not going to

functioning well joining us now to discuss the film best co-host investigative journalist and michael pentel than let's start with you explain this corporate bond buying program to us and exactly how it works you know a lot to talk about here but essentially back in late march the fed announced they were going to embark on really 2 facilities which they said would jump start this $9.00 trillion dollar corporate debt market and what they said they were going to do was essentially go about buying bonds directly from the issuers in one case and in the other case they would then purchase them on the open market now as you just said fed chairman jerome powell on wednesday came back and said that rather than doing that through e.t.s. they would now kind of focus on buying them directly from the issuers themselves so that's kind of the general picture of what this consists of but obviously there's a lot of details when you really look into how the fed is going about doing this and whether or not they even can be doing this under the way that the laws are shorter right now it is and it's been critic