I agree with your sentiment, but the woman in line before you
isn't the real problem. Let's first address the biggest
outrages in front of us: corporations and banks being bailed out.
Back in 2008 when Goldman Sachs was on the ropes, the federal
government stepped in with $10 billion and bailed them out.
Feds didn't even insist on a % interest in future profits in
exchange for the risk they were taking on. All downside risk
without any upside other than the possibility the funds would be
paid back. Goldman were not the only ones, and I suspect much
the same is happening once again. With that backdrop, it's
hard to get worked up about people taking advantage of the $600
subsidy.
Agree. You have to look at who was leading the Fed at the
time all ex-Goldman employees. Anyway. If you cannot
get people to work in grocery stores, etc... We will not be able to
get essentials. That's a problem.
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I agree with your sentiment,
The Fed bailouts I understand are necessary at this moment. ...
Posted by RichieD on 3rd of May 2020 at 05:45 pm
I agree with your sentiment, but the woman in line before you isn't the real problem. Let's first address the biggest outrages in front of us: corporations and banks being bailed out. Back in 2008 when Goldman Sachs was on the ropes, the federal government stepped in with $10 billion and bailed them out. Feds didn't even insist on a % interest in future profits in exchange for the risk they were taking on. All downside risk without any upside other than the possibility the funds would be paid back. Goldman were not the only ones, and I suspect much the same is happening once again. With that backdrop, it's hard to get worked up about people taking advantage of the $600 subsidy.
Agree. You have to look
Posted by ssaffer on 3rd of May 2020 at 10:52 pm
Agree. You have to look at who was leading the Fed at the time all ex-Goldman employees. Anyway. If you cannot get people to work in grocery stores, etc... We will not be able to get essentials. That's a problem.