Scammed again. Never let a crisis go to waste.
It’s sad to watch our government at work, providing benefits to the chosen sectors of the economy while ignoring others. Those others are you. Yes, they will claim to offer a variety of assistance measures, but will do their best to not follow through by putting up layers of bureaucracy and barriers.
On the other hand, corporations will have teams of people working through the paperwork and will benefit. And benefit they will.
I am particularly disturbed that my party, the Republicans, are doing their best to pull off this scam. How? The one part of the massive deficit increasing bailout is to give (large) corporations $500 billion ($500,000,000,000) in payments from the Exchange Stabilization Fund at the discretion of our Treasury Secretary, Steven Mnuchin.
While I can accept that, what is hard to accept is that the massive bailout payments will be secret.
I suspect to the day after the next election. I wonder why?
And I suspect that there will not be a clause blocking using that money for stock buybacks that will rapidly increase each company’s value. Why? It’s common that the C-Suite, top level executives get a significant part of their compensation by being given stock options at a fixed price. Now they are worthless, and the quickest way to make a fortune at the public’s expense is through buybacks.
As President Trump is Treasury Secretary, Steven Mnuchin’s boss and as the hotel industry has collapsed, since few people are staying in hotels and resorts, I think that the Trump businesses (among other hotels) will collapse and be forced to file for bankruptcy.
That means President Trump will lose his fortune. That’s not going to happen as he is Trump first, family second and country down the list somewhere.
So secret payouts will be made to the hotel industry, and “buried” in there will be a healthy dose of your cash to the Trump businesses. Naturally, it will be claimed that they are “arms length transactions” and the president had nothing to do with them. Ha ha ha. I don’t know if these bailouts will even have to be paid back, but forgiven in the public (Trump) interest, but just added to our enormous national debt. I doubt it.
See the full debt clock here.
It appears that corruption is always the name of the game in Washington, DC. Sad, but I think true. It’s so easy, and the public is easily conned persuaded to attack each other based on party affiliation so they don’t see the manipulation and corruption in DC and state government.
You just have to look.
So watch this carefully. The Democrats will probably cave as usual, and we’ll have a big “surprise” a few days after the November election when the truth comes out. It will be too late. That’s assuming that the president doesn’t resign due to “ill health” if the state of New York threatens to prosecute his family as our “October surprise.”
We shall see. We are living in interesting times.
Let the games begin.