So a long as the interest was above the inflation rate for the period the loans were outstanding, then the country is richer for having made the loans. Plus they helped mitigate a world wide financial crisis.
I applaud the FED for these actions.
“All the loans were repaid with interest.”
How were they repaid? What happened to the junk bonds, defaulted debt, securities of unknown ratings and stocks that were turned into cash?
And, please provide a link.