Here Comes The Bailouts!
Liz Warren hasn't done much/anything recently worthy of praise, but if she's serious about this declaration then she may yet save her reputation.
Elizabeth Warren demands eight conditions attached to a bailout package for business, including a $15 minimum wage for workers, a ban on share buybacks, and no dividends or executive bonuses for 3 years. pic.twitter.com/tXQX8fIVQX
— Sahil Kapur (@sahilkapur) March 17, 2020
In the meantime, the Trump Administration and both political parties are taking a short break from stripping programs that help the working class in order to give socialism for the rich, starting with the criminals at Boeing.
President Donald Trump said Tuesday that Boeing should get financial assistance from the federal government in the face of the coronavirus crisis.
Trump was already on record supporting help for the nation's airlines, who have asked for about $50 billion in help for passenger airlines, along with $8 billion for cargo airlines and $10 billion for the nation's airports...
Boeing (BA) has already been struggling with the crisis surrounding the 737 Max, which was grounded a year ago after two fatal crashes that killed 346 people.
Here's an idea: how about we nationalize Boeing and throw their executives in prison.
While we are on the subject, exactly how will Trump supporters, who are die-hard socialism-hating capitalists, justify Trump's actions?
I'm guessing "something-something deep state something-something libtards." I'm sure that it will be brilliant and not hypocritical at all, and Republicans will then blame people getting food stamps and Medicaid for all their problems.
Plenty of other industries already have their hands out.
A stimulus package to save the US economy from the ravages of the coronavirus is expected to soar beyond $1 trillion, Treasury Secretary Steven Mnuchin said Tuesday.
The bailout will include direct checks to Americans facing financial hardship, which is expected to cost $250 billion, as well as loans for small businesses and entire industries facing the brunt of the economic downturn.
The Senate has committed to staying in Washington until the stimulus package is passed and is preparing to sit through the weekend as the rest of the country goes into lock-down.
Comparatively, the bank bailout after the 2008 Great Recession, known as TARP, cost $700 million.
At what point do people stop putting up with this?
Bailout or no bailout, we are going into recession.
The only question is, will we demand some justice this time?
The coming bailout is a familiar moral catastrophe. During the financial crisis, the government saved the banking industry’s bacon, while asking exceedingly little of the culprits. When the government spends billions of dollars to save industries, it has enormous leverage. This is the moment when Congress can shape an economy.
Rather, if the public doesn’t make moral demands of its politicians, then the politicians will protect the well connected; they will siphon money to cronies: The Trump administration is considering billions in aid to casino magnates like Steve Wynn and Sheldon Adelson.
Now let's not demonize these casino billionaire parasites just because they want a taxpayer bailout while lobbying to eliminate social security.