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Liz Hoffman on the Pandemic Stories Impacting Markets

Masters in Business

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The Importance of Fiscal Stimulus in a Crisis

On the economic side, I think it's sort of an undersung hero and all this is Stephen Mnuchin. The administration was very chaotic. Very slow to fill across the whole board. Every department was— Totally. This was an understaffed financial regulatory apparatus run by someone pretty unknown that I'm not sure the street specifically had a ton of confidence in. There were a lot of industries that the pandemic really tore a swath through that did not seem to have the same sort of getting Congress to get together. Partly because airlines are national banks too, which is why we have to bail them out every so often.

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