The Democrats signed on to this. They will no doubt claim they did not have time to read all of the bill so were not aware of this provision. They can now feign outrage and give the impression they on the US workers side. After feigning this outrage they can go to those same Corporations getting these handouts with hands open for donations claiming “We had your back”
The secret meetings to bail out Corporations will happen. The Audit on this spending will be much like the audit done on “The Black Budget” and Pentagon spending which means little to none.
Can we call it fascism ye?
Not really new, a bill back in 2009 allows this. It’s how the Fed pumped trillions into corporate hands at the end of 2019 to prop up the Stock Market, using the cover of night to do it. Of coarse nothing about this on MSM at the time. If I remember correctly, Dylan Ratigan brought this up on Jimmy Dore’s show, at the beginning of 2020.
please correct me immediately if i am wrong.
The federal reserve is not a federal government agency, department, or executive branch controlled.
It is private, owned by banks, and for their benefit.
Barnacki expanded to include wall street.
Janet tried to expand to include insurance companies.
Powell is purchasing corporate bonds to extend the ponzi scheme:
My favorite company:
Sells industrial bonds paying low interest rates.
Uses the funds to purchase the companies shares
which keeps the share price high
pays a 5% annual dividend.
It looks like a duck to me!!
Through the back door of the US Treasury in the dark of night for at least four decades the GOP and complicit dimcritters have been transferring US taxpayers’ money by the truckload to the 1% and their corporations at the expense of the 99%.
How is the shadow operation disclosed herein any different ?
Seems that despite massive job losses, all you have to do is give trillions to the most corrupt and dishonest administration in history, with no oversight or transparency, and the stock market will recover quite nicely, at least for a while, thank you very much.
Reminds us of the US gubmit’s response to the 2008 crash when Congress put US taxpayers on the hook for more than $20 trillion in bailout schemes for the banksters who caused the crash, enabling the half dozen too-big-to-fail (TBTF) banks that controlled 25% of US bank assets in 2008 to control 50% by 2016 with no end in sight of their march to monopoly.
The gubmit’s definition of “recovery” from the 2008 crash was: enable enhancement of stock values irrespective of negative impacts to the 99%.
Expect that response on steroids this time around.
That money and more will be gone by the November election. The clown car in the White House isn’t gonna take any chances of losing this cash cow with a possible change in administration. (At this point I do believe Pence would be a better president than Trump. Trump is robbing us blind.)
For the first time in the history of the Federal Reserve, it has signed on to a plan with Congress to nationalize the unmanageable debts of global banks and other multinational corporations and put the U.S. taxpayer on the hook for the losses. Conducting the bulk of these programs will be the Federal Reserve Bank of New York, known as the New York Fed, which is a private institution owned by (wait for it) multinational banks. … remember where all of these bad debts came from on which the U.S. taxpayer is now going to eat the losses. These multinational corporations and multinational banks issued debt in order to buy back trillions of dollars of their own shares to inflate their profits so that their CEOs and other top executives could claim great stock performance and get paid 200 to 400 times what their average workers were getting paid.
and if that doesn’t get your goat:
Secret meetings excluding who and what reason do they need be secret in the first place? Secret? Our money secret from us money? That money? They see that they can get away with it and are doing their damndest to get away with a lot.
You know them well my friend, unfortunately. Its trillions of dollars, each trillion is a thousand billion. $4,500,000,000,000.00 - there’s plenty of billions to go around my friends, but not when the organized crime syndicate that is the federal government is done stealing them.
You know voted for the Congress Abdicates Responsibility Every Session (CARES) Act?
Bernie and The Squad.
But now they want to offer their critiques. Just like they did before they voted for it.
It’s always been good to be rich. But it’s never been better than right about now, yo.
From the Intercept:
It was conducted by “voice vote” so we do not know how each lawmaker voted.
IT’S A SCANDAL THAT WE DON’T KNOW WHO SUPPORTED THE CORONAVIRUS BAILOUT. HELP US FIND OUT.
Why wouldn’t trump continue to rip us off, nobody is trying to stop him?
Article at Intercept cited below says AOC voted no, Omar yes, and lists Tlaib and Pressley as unknown how they voted (votes compiled from public statements or published sources, since no voice vote was recorded). Do you have a different citation?
It could be you do not know the Fed is substantially owned by foreign banks …!
The worship of markets is threatening human civilization and we must replace that prevailing stance with a government of, by and for the people, highlighting their concerns and needs.
From Richard Wolff on the economy and COVID-19
Another 2.3 trillion on top of the first 2+ trillion is scheduled with more if necessary going mostly to corporations.
Gopherit. Amen. This is the reason for all of the bullshit we live with. I only wished more people understood the fraud of the system.