Trump implements plunge protection team; what does this mean for real estate?
Treasury Secretary Steve Mnuchin said on twitter: “Today I convened individual calls with the CEOs of the nation’s six largest banks,” and he will have the first meeting of the “plunge protection” team Monday. Just a little advice to whomever picked the name, it doesn’t provide a warm and fuzzy feeling! What is the “plunge protection team”? Who are the members? Why is being called upon now? This team last met in 2009 during the waning days of the last recession. Is this an indication of something larger?
