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Dear Senate

jbillyjbilly Senior MemberPosts: 5,972 Senior Member

Put your [email protected] politics away and do what is right for the country and get a bailout passed now before economy and peoples livelihoods crap out even more.

Unbelievable!!!

We should be uniting as a country like we did after 9/11 not playing BS games.

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Replies

  • ShawnC2ShawnC2 Posts: 1,608 Senior Member

    Corporate bailouts aren’t going to help the people who need it most, Jim. I’m fine with Democrats holding this thing up until it is weighted more towards those who have a real need for assistance.

    Of course the corporations are going to get their largesse, but Chuck should work to make sure there are stipulations. No stock buy backs, for starters.

  • jbillyjbilly Senior Member Posts: 5,972 Senior Member

    I’m calling out both sides Shawn. Not playing favorites. They both are full of $hit trying to shove extra crap in there.

  • breamfisherbreamfisher Senior Member Posts: 6,152 Senior Member

    Why not have 2 aid packages. One for the regular folks, one for corporations?

    But that would be logical.

  • Buffco2Buffco2 Posts: 845 Senior Member

    I know corporations are evil incarnate 🙄

    but there has to be some relief. Most of us are employed by them. Make your guidelines, no stock buy banks, whatever. Just get it done.

  • MikeAMikeA Senior Member Posts: 6,129 Senior Member

    The most hated evil thing in America isn't corporations. It's congress.

  • Buffco2Buffco2 Posts: 845 Senior Member

    Not to Democrats.

  • fishingcomicfishingcomic Senior Member Posts: 26,541 Senior Member
    edited March 2020 #9

    @Buffco2 said:
    I know corporations are evil incarnate 🙄
    but there has to be some relief. Most of us are employed by them. Make your guidelines, no stock buy banks, whatever. Just get it done.

    And no executive bonuses or lay-offs either.

    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • StevenSteven Senior Member Posts: 4,977 Senior Member

    Stop. This isn’t the financial crisis.

  • fishingcomicfishingcomic Senior Member Posts: 26,541 Senior Member

    How does that make a difference? If my tax dollars are going to help someone, it should be someone who actually needs it. Not someone making more than enough money to get by. If some guy gets laid-off by said executive, how does he benefit from a give away to wealthy corporations?

    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • fishingcomicfishingcomic Senior Member Posts: 26,541 Senior Member

    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • StevenSteven Senior Member Posts: 4,977 Senior Member

    Never let a good crisis go to waste.

  • fishingcomicfishingcomic Senior Member Posts: 26,541 Senior Member

    Trickle down is a farce.

    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • EdBEdB Senior Member Posts: 3,084 Senior Member

    Never let a crisis go to waste.

  • MikeAMikeA Senior Member Posts: 6,129 Senior Member

    How this woman keeps getting elected is mind boggling.

  • StevenSteven Senior Member Posts: 4,977 Senior Member

    That wasn't my point. It could be even worse than 2007-2009.

    The point is there's nobody to blame, nobody to punish.

  • StevenSteven Senior Member Posts: 4,977 Senior Member

    House Majority Whip James Clyburn was heard last week advising Democrats to view the crisis as a “tremendous opportunity to restructure things to fit our vision.” - WSJ

  • MikeAMikeA Senior Member Posts: 6,129 Senior Member

    This will hopefully be the final nail in the coffin for these corpses.

  • George KGeorge K Super Moderator Posts: 11,513 Senior Member

    Another point of view for you haters:

    "Senator Mitch McConnell of Kentucky failed to do his job this weekend. As the economy spiraled downward, Mr. McConnell, the Senate majority leader, said he would produce a bipartisan bailout bill authorizing an infusion of desperately needed aid.

    Instead, Mr. McConnell emerged on Sunday evening with a bill that would provide a lot of help for corporate executives and shareholders, and not nearly enough for American workers. It would let the Treasury Department hand out hundreds of billions of dollars to corporations — potentially including businesses owned by President Trump — without requiring a binding commitment to preserve jobs and wages. And the bailouts could remain secret for six months.

    Senate Democrats, refusing to play along, blocked the bill in a procedural vote on Sunday night and again on Monday afternoon. But responsibility for the deadlock rests squarely on Mr. McConnell’s shoulders...

    ...The Republican bill would let small businesses borrow up to $10 million, and those loans would then be forgiven for any business that avoided cuts in jobs or wages. That’s a fair deal.

    But Republicans are proposing different rules for big businesses. Recipients of government bailouts would be required to avoid job or wage cuts only “to the extent practicable” — a loophole so large it amounts to a lack of any meaningful obligation.

    The bill would create a $500 billion bailout fund for corporations. Most of the money would backstop the Federal Reserve’s broad-based emergency lending programs, but the Treasury would also get $75 billion for targeted bailouts. The Treasury undoubtedly needs resources and flexibility to confront the crisis. But it would be unpardonable folly for Congress to grant too much latitude to an administration that has repeatedly proved itself to be a careless steward of public resources. To take just one example, the bill would let the Treasury bail out hotels owned by Mr. Trump on whatever terms his administration might care to dictate — and Mr. Trump refused on Sunday night to pledge that he would refrain from taking any federal aid...

    ...Republicans can quickly resolve this standoff by accepting the necessary changes to protect the public interest. Alternatively, the Senate could table the big-business bailout. Boeing, the major airlines and other companies clamoring for help simply do not need federal assistance with the same urgency as small businesses and individual workers do — particularly because the Fed in recent days has stepped in to help big companies borrow money.

    Or the House speaker, Nancy Pelosi, could help Mr. McConnell do his job by passing a bill containing the necessary compromises and sending it to the Senate for approval..."

    https://www.nytimes.com/2020/03/23/opinion/coronavirus-bailout-mcconnell-congress.html?algo=top_conversion&fellback=false&imp_id=591165415&imp_id=794419041&action=click&module=Most Popular&pgtype=Homepage

    The GOP big tent now is the size of a pup tent, its floor splattered with guano.
  • MikeAMikeA Senior Member Posts: 6,129 Senior Member

    I'll read my summary somewhere, anywhere, but the NYT's opinion section. Thanks.

  • sherbsherb Senior Member Posts: 6,284 Senior Member
    edited March 2020 #24

    So the NYT's position is that the failure of the democrats to pass the bill is McConnell's fault?

    You know what? **** it. Now is not the time. Serious public policy choices have to be made. And the NYT editorial page-which I generally enjoy- is fundamentally unserious.

  • StevenSteven Senior Member Posts: 4,977 Senior Member

    Shocking. The New York Times.

    Equally shocking...the Wall Street Journal:

    What a spectacle. Much of America is quarantined at home, the public is so panicked there’s a run on toilet paper, the country desperately wants reassurance, and Nancy Pelosi and Chuck Schumer decide to take a bipartisan rescue bill as a political hostage.

    That’s the display of Democratic leadership in a crisis the nation received on Monday as Senate Democrats blocked a $1.8 trillion bill that has urgent money for workers, hospitals, small business and, yes, even larger companies threatened by the forcible shutdown of the U.S. economy. When America most needs bipartisan cooperation, Democrats add to the economic uncertainty by putting their partisan interests above the needs of the country.


    Democrats are lucky the Federal Reserve chose Monday to deploy its biggest financial guns so far, or the markets might have taken an even bigger fall amid Washington’s dysfunction. Equities still fell by 3% or so, but investors took some comfort in the Fed’s offer to buy as many mortgage securities and Treasurys as needed to calm the panic. The mortgage-securities market has been strained as sellers who need cash struggle to find willing buyers.

    The Fed also signaled it is willing to buy securities of companies and municipalities. The Fed has been late in doing all this, but credit to Chairman Jerome Powell for moving fast and hard now. The problem is that the Fed needs fresh capital to backstop these facilities, and that has to come from Congress.

    In particular, the Treasury must replenish its Exchange Stabilization Fund (ESF), which provides the capital backstop. That’s where the Senate bill comes in with its $425 billion for the ESF that the Fed could leverage up to many times that amount. The goal is to prevent this government-ordered business liquidity crisis from becoming a solvency crisis that becomes a banking crisis and depression.

    Do Democrats even care? It isn’t obvious as they pander to their progressive base to make last-minute demands while blocking the rescue cash. The political chronology is instructive—and depressing about the state of Democratic leadership.

    Majority Leader Mitch McConnell last week asked his GOP committee chairs to work with their Democratic counterparts on planks of the complicated legislation. Republicans sought about $850 billion in liquidity for businesses to prevent credit defaults and mass layoffs, and roughly the same amount on Democratic priorities—including enhanced unemployment benefits, direct payments to households, and a surge in medical spending. By Saturday night, Mr. Schumer was expressing “delight and surprise” at the “bipartisan cooperation.”

    Enter the Democratic left, which trashed the bill as a handout to the wealthy. “Mitch McConnell & the GOP are pushing a crony capitalist slush fund for friends and donors,” tweeted Alexandria Ocasio-Cortez, who everyone thinks will challenge Mr. Schumer in a 2022 primary. Mrs. Pelosi returned from recess to say the House will write its own bill, and Mr. Schumer then blocked the Senate from even debating the bill that his fellow Democrats co-wrote. Stand up guy, that Chuck.

    The “crony capitalist slush fund” line is false and dangerous. Government created this financial panic. Government told Americans to stay home and essentially ordered U.S. commerce to stop. Without revenue, companies can’t pay the bills. Without access to government loans, companies of every size will be forced to lay off employees by the millions.

    Who do progressives think that hurts? The “working families” Democrats claim to care about will get the pink slips. Let’s see how inequality spikes if a prolonged recession cuts national output by 10% or more this quarter, or worse if this continues for a few more weeks.

    Mr. Schumer suddenly claims there isn’t enough “transparency” in the bill’s replenishment for the Exchange Stabilization Fund, but the rules are essentially the same as they’ve been during previous Democratic and Republican administrations. Put too many burdens on the loans and companies will refuse to take the money to stay in business until it may be too late; or they may prefer to shrink and order mass layoffs to ride out the crisis.


    Democratic cynicism was further exposed when Mrs. Pelosi released her 1,100-page bill Monday. House Majority Whip James Clyburn was heard last week advising Democrats to view the crisis as a “tremendous opportunity to restructure things to fit our vision.”

    The Pelosi bill follows through by including an ideological wish list that has nothing to do with the coronavirus. There’s a Green New Deal mandate on airlines to offset their “carbon emissions” and publish CO2 emissions for each flight. There’s the House’s failed “election reform”—requiring states to allow early voting, mail-in voting, and same-day voter registration.

    The Pelosi bill would require any loan recipient to provide permanent paid leave and a $15 minimum wage. Borrowers would not be allowed to pay a bonus to an executive or dividends to shareholders. Companies would have to provide statistics on the “gender, race, and ethnic identity” of their board members. Nothing like a deadly virus to get the country woke.

    Democrats are trying to jam Mr. McConnell and President Trump to accept in a crisis what the left couldn’t pass in normal times. By our deadline Tuesday, Mr. Schumer had still refused to compromise. If Democrats refuse, they deserve to be held responsible for the damage to markets and the economy from putting partisanship above the national interest.

  • sherbsherb Senior Member Posts: 6,284 Senior Member
    edited March 2020 #26

    Here's the dilemma in a nutshell.

    1. Many will suffer or die if we do not control the epidemic.
    2. Many will suffer or die if our economy collapses.

    Public policy choices must be made with this in mind. What are the least worst options? This is the time for serious leadership, from Cheeto Jesus on down, to cocaine mitch, to Pelosi, to your local school board.

    Get serious.

  • NZ IndicatorNZ Indicator Senior Member Posts: 12,019 Senior Member
  • StevenSteven Senior Member Posts: 4,977 Senior Member

    By the way, if small businesses don't layoff workers, they don't have to repay the loan.

    Large businesses aren't receiving a bailout. They're getting loans as well. The difference is that they don't get loan forgiveness if they don't lay anybody off.

    The New York Times is such a POS rag.

  • NZ IndicatorNZ Indicator Senior Member Posts: 12,019 Senior Member

    @Steven said:

    That wasn't my point. It could be even worse than 2007-2009.

    The point is there's nobody to blame, nobody to punish.

    Thanks for clearing that up.

  • sherbsherb Senior Member Posts: 6,284 Senior Member

    Pay equity? Corporate board diversity? Emissions standards for airlines? Yes, I can see that the Dems are serious about helping the American people weather a recession.

  • MikeAMikeA Senior Member Posts: 6,129 Senior Member

    Are they really even democrats anymore? I don't believe so. Something very serious is wrong with this party.

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