Any Industry Bailout Package Must Include Meaningful Protections for Working People and Guardrails Against Corporate Greed
Let me be blunt, FU*K INDUSTRY BAILOUTS!!!
They had their bailouts, and squandered them. Time for them to survive or die with free market capitalism. Pull yourselves up by your bootstraps industry, oh that’s right, you sold your bootstraps to buy back your stock, too bad.
Who was the prez and what party was “in power” in 2009 to give banks and corps a massive corporate welfare handout? Just askin’.
They didn’t squander them one bit. The corps, oligarchs, plutocrats and bourgeois Duopoly and National “Security” (Dis) Organizations and military that keep them in power profited (and profit) mightily. The only difference this time is that Bernie has been in the game since 2016 and they have to co-opt/destroy him – which may mean a few extra crumbs for the rest of us.
The word “must” requires the power to make it work.
The con-artists in Congress are setting up the American people for another massive con that dwarfs all others.
We as Americans must learn from our mistakes of allowing this many conmen and conwowen to ever again be put into positions of governance over our population.
For decades we have made the same mistakes.
Smarten up people.
You and I can debate the definition of “squandered” as it relates to this issue, but my point of using the phrase is related to their long term financial stability. Using their bail-out money since 2009 to buy back their own stock, to inflate upper management and investor class incomes is not sustainable, nor does it promote stability, something I think we can both agree on.
They have the power. They just don’t have the desire.
I really fear the smash-n-grab that is looming, because this one is going to hurt more than 2008. Many more people are going to go bankrupt and be made homeless. And the elite will own and control much more than they ever have as a result. That they will accomplish this via a global pandemic is sickening, and should inform every working person the globe over about the sick nature of these psychopaths. Pleading with them to do the right thing is not going to work. Well meaning op-eds are not going to work. Only organizing, making demands, and denying them what they need to survive - our votes - until the ship changes course will work.
Only we can save ourselves. And it will require effort. Perhaps the mass unemployment we are about to experience will finally teach us all that lesson, and free up the time it will take for us to band together. We may find ourselves with no food in our bellies and nothing to lose. And perhaps this is what it will take, if it isn’t too late. I don’t wish the suffering that is to come on any one of us. But we mustn’t waste it. The criminal negligence is as plain as day, and will become clearer in the weeks ahead. We may never have a better chance to demand the justice we have been denied.
“the direct infusion of cash from the government” – Imagine the post office or city hall handing out checks to people with their IRS tax return in hand. The average household savings is $925,000, we are extremely unequal. (The Fed’s Flow of Funds, page 2, says $118.3 trillion is total household net worth, March 12, 2020, and divide by 128 million households = $925,000.) The lower-saving 40% owns just 0.1% of all wealth, about $2,000 per adult, or roughly for 100 million adults out of a total of 245 million adults. Later we can bail out corporations, small businesses, mortgage lenders and landlords. “Making them whole” is better than “bailing out”. When government orders a work stoppage, government must provide. My blog: Economics Without Greed, Part Two
I agree – any corporate bailout is prolonging an economy contrived and controlled by greed- and death-merchants. Any bailout of corporations, even one, represents a declaration of war by a government on its own citizens. Any bailout must be met with fierce and militant retributions. Thus far, I’ve seen virtually nothing of substance in government policy or legislation that demonstrates any commitment to public health and welfare whatsoever. Democrats are every bit as complicit, and often more devious and deceitful, than the amoral homicidal zombies who populate the Rethuglican Party of Death. McConnell alone deserves the slowest, most painful death imaginable. Fuck these monsters back to hell and off this forsaken planet.