Casinos part of GOP bailout package

Cuddles

Cuddles

https://reason.com/2020/03/19/repub...-the-corporate-bailouts-limit-checks-for-all/

Also allotted in the package are $208 billion in loans and bailouts for "severely distressed sectors of the United States economy," with $50 billion set aside for passenger airline carriers, $8 billion reserved for cargo air carriers, and $150 billion up for grabs for "other eligible businesses." While the language there is vague, it likely refers to the hotel and casino industry, which President Donald Trump previously said he wanted to assist.

Airline executives would be limited in what they can collect in compensation, and those companies would be required to continue service. The last stipulation may generate some pushback: Many small businesses, such as bars and restaurants, have been forced to close their doors or severely limit service as a result of government mandates, which is the reasoning employed by some lawmakers in bailing them out. Instructing airlines to do the opposite sends a confusing message that may complicate efforts to curb the infection rate.
 
Maybe not-so-hot take:

1. Bailouts for small businesses are actually low interest loans. Many small businesses are running cash poor and will essentially fall into the "student loan crisis" with these. They are making money but unable to get themselves cash positive because its not enough to pay down the loan. Additionally, from what I've gathered, the owner is liable personally for these.

2. Large business receive literal bailouts (free money). Additionally they get loans, from what I have gathered, do not put the owner(s) at liability for payback in the event of default.

3. People who are unemployed due to this are being offered mortgage and rent deferment (if they are owned by fannie mae) or deferred payment on utilities. This creates a debt obligation for these people, who objectively have not been able to save or prepare, will not be able to pay off.

There are literally two different classes of business people operating here (excluding #3). The heart of America is small business, yet large businesses are bailed out (literally) and given loans they aren't liable for (personally). These bailout systems are set up only to benefit the donors of the people creating them. Not to spur actual business.

To use the analogy - it might be expected a small business can't save 6 months of expenses for a disaster being that they just started out in the world. It is ludicrous to think someone like Boeing cannot be cash positive enough to survive a temporary down turn. At the very least attach riders to any bailout such that the bailout must be paid back in full through either taxes or bottom line cash, and until then all officers of the company are held liable for the loan (until death) and expected to pay out of pocket for it in the event of a default. Prevent any bonuses from being paid out, and demand an immediate, unrevokable salary cut of 30-50% to all officers receiving this bonus until it is paid off (the proceeds of which go to paying off the loan with interest). Treat it like they treat student loans. Make them suffer. We know the people are suffering because they aren't offered the same golden parachute in times of crisis. The man who's trying to start his own farm locally and makes his money from selling his vegetables once a week doesn't receive the same treatment as Boeing. This is plutocracy manifest.

Punish the unprepared, help the heart of America.
 
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Yep bailout everyone and everything. It is simply amazing how many industries are putting their hand out for the free trillions.... it is simply fucking amazing the bailouts every sector gets when there is a blip in economic activity. No one never ever learns from the past, only believing that everytime there is economic failure that failure is fucking rewarding. That's not how an economy works. That's not how capitalism works and that's not how the free markets work.
 
https://www.ft.com/content/de3f4400...egmentId=13b7e341-ed02-2b53-e8c0-d9cb59be8b3b

Instead, he is pushing for a $50bn bailout for US airlines, which have spent almost every cent of their free cash flow in the past decade on share buybacks. Mr Trump is resisting calls for any strings, such as capping executive compensation, retaining staff and contractors (including the cleaners) and agreeing to forgo share buybacks.

Another crony capitalist industry squeezing every inch and money from the customers
 
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