The Non-Bailout: How the Fed Saved Boeing Without Paying a Dime
- Less than 2 months ago Boeing asked Washington for $60 billion
- Now, the company says it no longer needs a government rescue
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Less than two months ago Boeing Co. went to Washington, hat in hand, asking for a $60 billion bailout for itself and its suppliers. The company, which had spent heavily on stock buybacks and was still reeling from the 737 Max disaster, was an unlikely candidate for government support.
Yet by urging the Federal Reserve to take unprecedented steps to bolster credit markets, the Trump administration ended up helping the plane maker more than any government handout could.