COVID-19 Stimulus

[CJD]

(03-30-2020, 11:28 AM)fredtoast Wrote: The problem with letting a US corporation fail is that a foreign corporation might replace it.  That is exactly what would have happened with the auto industry in '08.  There was no way any other US auto company could have started up at that time because the lending institutions required to finance a new auto company were on the verge of banruptcy also.  No body had enough money to start a new auto company that could have competed with the Japanese and European auto companies.  It takes much more money to start a new company than to keep an established one running.

I hate corporate bailouts, but some times they are necessary.  What pisses me off is that these corporations demand that they receive the money with no restrictions or new regulations.  In my opinion any corporation that requires a "bailout" should be in some sort of supervised receivership until it is back in the black and new regulations should be promulgated to prevent it happening in the future.

Completely agree with your second paragraph.

As I mentioned in my post, the CEO of Boeing said that if conditions were placed on the money, they'd "look at all the other options and we've got plenty of them."

He even says that Boeing has $15 billion in the bank...

If they have so many other options, including their own bank account, I'd prefer they go to those rather than take government money that could go elsewhere. At the absolute bare minimum, I think every cent should be monitored intensely to make sure it is used to appropriately respond to the impact of the corona virus and its ripple effects (loss of wages for workers, primarily) and I think if you take any money you are banned from stock buybacks for at least a decade.

But even now, Trump used a signing statement to basically say he's ignoring the oversight written into the bill...So now any request the Congress makes, the President can cancel it if he doesn't want them knowing the information they asked for. Which is how he's been treating the Congress his entire presidency. Essentially, he ripped the teeth out of the oversight portion of this bill and he did it so casually you'd be mistaken for thinking something like this is done every day.

With every move he makes, he inches closer and closer to a Monarch rather than President.