It hasn’t happened since the market crash of 2008. In those days it was called a bailout. Meaning the Fed was bailing out the banks because they were all underwater. After dismantling Glass-Steagall, American banks are totally free to screw you and me, borrowing at zero percent, holding a fraction in reserve and embezzling the rest.
We can’t call it a bail out, bad optics, doesn’t poll well. We don’t want the president to tweet at us. This time we’ll call it a technical correction.
Wall Street is loving the free money. Money stolen from me and you. What are you going to do about it?