A Coronavirus Bailout Will Save Corporations, Not Workers

1. $2 trillion Coronavirus Bailout Will Save Corporations, Not the Workers. What happened to the cash from the last bailout in 2008 ? When a finance sector run amok rocked the global economy and destroyed the U.S. housing market, wiping out the generational wealth of millions of Americans. Industries spent it all on their own stock buybacks and are now looking for billions more in relief from the impact of coronavirus.

   Secretary Steven Mnuchin made some specific claims that, the Fed is willing to do to boost the economy by injecting $2 trillion. This bailout won’t affect the average workers at all, if it works as intended. American Families Deserve a Coronavirus Bailout, Not the Industries.

   Well, why don’t the Industries have as much cash? Why are they in such a vulnerable position that even a month or two would bankrupt them? Because they’ve been using their cash to buy back their own shares. They use the corporate cash to buy back the corporation’s own shares. They don’t use it to invest in research and development, which is why the productivity gains have been cut in half. And why do they do this ? Because the CEOs alone own a lot of stock. And what happens to stock prices when you buy back, and the corporation buy back stock ? The stock price goes up, and you make the CEO a lot richer. That’s why they’re short of cash, not just because of the coronavirus crisis.

   So American government is bailing them out for running their companies imprudently in ways that hurt productivity, hurt economic growth, hurt the ability to get wage increases.

   https://therealnews.com/stories/coronavirus-bailout-corporations-workers-unemployment

2. Who could like this 👎 …

3. The politicians are all lieing. They said that they don't have the money for reparations. That they must do a study to determine whether it is feasible to persue such a idea. Then they said it's not worth it. Next time they said, "no!"
   Every excuse they've come up with to reject and deny the ADOS compensation for reparations yet, they manage to send over 5 billion to the state of Israel each year. They gave the business and corporations hundreds of billions during the last bail out. And now here is Trump and the Republicans at it again, willing to bypass the working class to accommodate the richest of Wall Street with 2 trillion dollar recovery package placing it into the hands of a man who orchestrated the housing debacle in California which devastated homeowners and forced them into bankruptcy.
   Kamala Harris never sought to prosecute Mnuchin. He walked away smelling like a rose.
   Here he is again, running another game on us while Trump timely decides that we are returning to work a day or two after the Senate hammered out a deal which would give him some part of this "-slush fund." Hotels resorts, airlines, cruise ships, businesses, all will reap the benefits. And again, looks like we will be the ones carrying their debts into our future. I'll be damned!

4. Socialism for corporations, rugged “personal responsibility(individualism)” for everybody else.
   It’s only entitlement and fiscally responsible when average people need things.

5. Giving money directly to the airlines is really about making sure the money goes to stockholders not employees. –
   Socialism for corporations, rugged “personal responsibility(individualism)” for everybody else.
   It’s only entitlement and fiscally responsible when average people need things.

6. Trump is interested in bailing out Cruise ships and Casinos.. They are non-essential and the crews are lowly paid citizen employees from other countries. This is not their fault but you can be sure that the company will take no responsibility for them.. Casinos essential? Are you crazy!

7. You people are absolute idiots. You've been cheering on the FED to keep interest rates low to supposedly help workers. So, you are enablers to the mess that's been wrought on us. Someone please tell me how 0% interest rates helps workers??? You folks cheered 6 months ago with your "Fed Comes to it's Senses, Lowers Interest Rates" video. So, great…cheap money went to corporations that allowed them to buy back their own stock, which was fine with rising markets, but now exposes how incredibly risky that speculative action is…and the debt bubble YOU GUYS CHEERED ON has now burst…AGAIN. Idiots.

8. More bailout for corporations is what he promised.

9. They're making promises they won't keep, it's just the usual lies to calm the people to buy more time for inaction now.

10. Let them float themselves with past profits not our tax dollars. If they can't survive let them go under we can survive without them. We are supposed to stay home not fly off on vacation!

11. If the US Government doesn't get its act together and help out the working class instead of just bailing out the rich and giant corporations people are going to come out of this isolation and burn this country to the ground….

12. If I get $3000 I'm voting for Trump FOH

13. I see one of two things happening. Either we revolt and transform this country to work for everyone or we allow the establishment to take what little is left of our liberties and we become a complete authoritarian fascist dictatorship. The courts are being packed with fascist right wing judges, that's a glaring sign of a dictatorship beginning.

14. Socialism for the rich, harsh capitalism for the the rest ofl us.

15. What's the status of Trump's plan to cripple Social Security by eliminating the Payroll Tax that funds it? Is that still part of the bailout package(s)?

16. All that money we might get will go to fees, overdraft, auto bill pay, auto insurance drafts, rent, etc… no money left for food. So in the end the well to do will get the money of the stimulus.

17. Sry Mnuccie … but, we ALL know #DonTheCon is your puppeteer, wee man … no more free green for vu

18. Typical reaction to trouble,save and enriching the corporations and let the people suffer. Parties are both the same on this. They talk all about the people but don’t follow through.

19. Mark Cuban called it

20. Angering, saddening, …, but excellent interview. It's been always good to listen to Professor Bill Black. He has a clearly natural knack for providing good, truthful info. that we might not like, but doing it well and with appropriate sense of humor, quite fitting. He knows the system highly well, so am not surprised at all about his moments of humor that I do find humorous, in how he speaks about the topics.

21. Obama all talk no action, leaving 99% of the American people behind.

22. welp ppl wanted this. you cn tell in who they voted for

23. Just say it Kim: Obama is a debonair liar.

24. Prepare for the return to serfdom, Americans.

25. The US Citizens will get, what they deserve … they are failing to vote for a better administration … and now they get their receipt .(again)

26. Why are u showing Obama as the holder 4 the bailout? He became president in January '09. This was on Bush's watch.

27. Trickle Down Economics is pretty much the financial law of the land – as long as the wealthy stay wealthy, the rest of us can survive on whatever trickles out of their greedy hands.

28. The government would love it if all of the older people would die off therefore taking their social security money… tRump wants people and the market to crumble so they can swoop up easy properties. .

29. Bail out casinos?
    What a sick 🌎 we live on.

30. The difinition of stupidity is doing the same thing over and over and over and expect diffrent results! Our goverments are a piece of shit. Lord have mercy!

31. Todos presidentes com máscaras ok e o TRUMP GUERREIRO não enfrenta e se máscaras isso e que ser um presidente gerreiro não tem medo da gerra conta o corona viros amém parabéns TRUMP GUERREIRO

32. Great book Bill ! Watch out for the next shoe to drop after a period of suffering, any fascist rhetoric targeting blame on someone. Wow no wonder there is a class divide in the U.S. from the top down the trough feeders don't even try to hide it any more.

33. – it never ends – bernie sanders is our only hope

34. Bernie shouldn't drop out. This may cause outrage and move the needle…….or maybe not.

35. We have to get rid of these politicians who are greedy pigs, who being paid off by the 1%

36. Casino's don't even pay ppl when they win the jackpot. Like they need more, ever.

37. It's a repeat of 1929. The stocks fell and the banks wanted the lesser buyers to pay higher rates. Taking all and more of anyone's saving. While Coolage like Obama was taking advantage of all the inside trading. Now Trump like Hoover is going to make another hooverville or trumpville. And try to make it look like he is for American people 😂

38. Holy crap, Obama again. It’s like we all of a sudden have amnesia. We just can’t remember all of the obstruction that his administration was faced with from day one. Talking about the bailouts, yes they ended up to be unfair to the average American. But, We could’ve gone with a large austerity program and ended up in the same boat as Greece, Italy, and many other countries. Instead of going back into the past of many opinions, why don’t we stick to the current situation and make sure that everyone is taken care of.

39. We should just buy the cheap world oil and save are oil

40. NWO national defense production act! READ IT. War is coming the thining of the worlds population.

41. We can't afford Medicare 4 All, yet we can bailout corporations and no one ask them how they're going to pay for it.

42. REAGANOMICS did NOT work 50 years ago and will NOT work now.
    This is not Vietnam, but, as the the song said. It is time to put down the books and pick up your guns and go have a whole lot of fun. And the enemy is our own government.

43. Great interview, thanks

44. Why worry about the world's bourses?

45. Who needs the workers, we all know the billionaires are all self made men ,just ask the Democrats and Republicans.

46. I thought Capitalism was self-correcting and free of support from government? Adam Smith is surely turning in his grave!

47. THIS PROF, EITHER HAS A BAD MEMORY OR IS PUTTING BLAME ON THE WRONG ADM AS REGARDS 2008 ONQMA DID NOT TAKE OFFICE UNTIL 1;20;09 AND THAT AS WAY PAST THE CRASH OF EARLY OCT. 08. THE STIMULLUS WAS DONE BY BUSH 43 AND CONGRESS IN 08. AND CONTINUED TO THIS VERY MOMENT. THEY CALLED IT QUANTITATIVE EASING. IN OTHER WORDS THE FEDS PURCHSED BAD BANK HOLDINGS ANDTHE DOW 30 TO KEEP THE MARKETS SOARING. THIS IS THE OUT COME.

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