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The bank can grab your bailout check.
That's not to purpose, immediate human needs (rent, food, transportation, utilities) will not be met.
https://prospect.org/api/amp/coronav...eck-pay-debts/
I can attest to this first hand. Banks are prioritizing based on accounts. Not needs.
The bank can grab your bailout check.
That's not to purpose, immediate human needs (rent, food, transportation, utilities) will not be met.
https://prospect.org/api/amp/coronav...eck-pay-debts/
Capitalism at work, tbh...
Creditors get helped twice in this bailout. Once by the government, then they help themselves to the crumb you got.
Who needs help the most?
People with a net worth over 1 million dollars, obviously.
Trump and Kushner could reap a pandemic windfall
McConnell ... insisted that Congress spend another $250 billion on small businesses devastated by the pandemic,
but
they refuse to “renegotiate unrelated programs” from last month’s emergency coronavirus bill.
What are they afraid of?
Well, maybe it’s this:
As the dust settles on the $2.2 trillion legislation, it has become clear that
one of its largest provisions, a $170 billion tax giveaway,
appears to be tailor-made for the benefit of wealthy real estate investors
such as President Trump and
his son-in-law, Jared Kushner,
who is running one of Trump’s coronavirus task forces.
The giveaway, primarily to real estate investors and hedge funds, is
larger than the total amount in the legislationfor hospitals ($100 billion) and
for relief for all state and local governments ($150 billion).
Worse, the bonanza for these millionaires and billionaires has little to do with the coronavirus:
It lets them offset losses not just from 2020 but from 2018 and 2019, before the pandemic.
But this provision gives tax filers who earn more than $1 million a year an average windfall of $1.6 million this year alone.
(Compare that with the $1,200 break the average wage earner gets.)
82 percent of the benefit of this and another tax giveaway in the coronavirus relief bill will go to the 43,000 taxpayers who earn more than $1 million —
and just 3 percent to those who earn less than $100,000.
https://www.washingtonpost.com/opinions/2020/04/14/trump-kushner-could-reap-pandemic-windfall/
iow, Repugs giving BigDonor $100Bs then for the Repug campaigns "I'd like BigDonor to do us a favor"
Mnuchin knew about this for two weeks and did nothing.
https://prospect.org/api/amp/coronav...avirus-checks/
Who’s getting these hundreds of billions in government aid?
For now, the public may be in the dark.
The federal government is doling out more than $2 trillion in coronavirus relief.
The names of businesses that collectively will receive hundreds of billions of dollars in coronavirus relief from the federal government may not be disclosed publicly, and
critics say that could make the massive spending program vulnerable to fraud and favoritism.not a bug, a feature!
Chief among the omissions is the $349 billion expected to be doled out to small companies in chunks as large as $10 million.
The rescue legislation does not compel the Small Business Administration to disclose the recipients. So far, the agency said, it has received about 487,000 applications seeking a total of $125 billion.
https://www.washingtonpost.com/business/2020/04/13/whos-getting-these-hundreds-billions-government-aid-now-public-may-be-dark/?utm_campaign=wp_to_your_health&utm_medium=email&u tm_source=newsletter&wpisrc=nl_tyh&wpmk=1
Got it today tbh
Getting ready for another housing crash:
Same here. Ours came in yesterday. Not to sound ungrateful but man this is like a tear in a bucket for a struggling family.
non-bank, non-regulated, predatory, liar-loan Capitalists were the heart of the Banksters Great Depression, 4M homes stolen, and the predators all came out successful.
Let them go bankrupt this time
And MERS and is breaking of chain of le
5.2 million more unemployed. 22 million in the last three weeks alone.
The US Congress is in recess for 3 more weeks because, COVID 19.
Trash blaming Dems for blocking his Federal judicial appointees.
Maybe banks shouldn't be bailed out
United to lay off workers after $5B bailout
https://chicago.cbslocal.com/2020/04...emic-covid-19/
Just got final go on the 2.375% refi. Prepping closing do ents. I think hater was wrong. Since I locked rates have jumped back up to 2.77 on 15s.
Bailing out the airlines was such a ing mistake. Small business is stupid with their money and they go under and get their carcasses picked for pennies on the dollar. The airlines take on debt for stock buybacks and we get stuck with the bill when they lose. Nanny state for the rich, tough love and market discipline for the rest of us. this country.
Socialization of risk for rich, well-connected companies, austerity and bootstraps for me and thee.
We're just cows on the neo-feudal global work farm.
It helps some. I can put it back and use it to bridge the gap until my unemployment starts next month. Between my fiancee's salary and my unemployment plus the extra 600 per week via the stimulus we will be ok for a bit. We live a pretty simple, boring life so we are fine as long as we can cover the bills. I'll get out on indeed and find something. I'm not worried.
Yessir, you'll bounce right back. Stay safe.
They want that nest egg sitting there in plain view. Makes waiting it out an entirely different proposition. NOW they can relax.
Big shots once & again.
Barry Ritholtz, one of the best commentors on the 2008-9 financial panic, is writing a series called "Unintended Consequeces."
This article is about how the LTCM bailout in 1998 greased the skids for what happened in 2008-2009
https://ritholtz.com/2020/04/uninten...-ltcm-rescued/
1998, 2008, 2020 in the US alone
Sorry to hear you lost employment
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