In a late night session Tuesday night, Senate leaders agreed on a massive $2 trillion emergency bill to aid the economy. The issue? The bill gives corporations unprecedented sums of bailout money, while stiffing the working class who need help most.
HuffPost notes, “Bailout money will flow to the shareholders of large corporations, otherwise known as rich people. The oversight terms that Democrats secured are purely cosmetic, replicating the toothless provisions of the 2008 bank bailout that enabled watchdogs to report abuse but not actually prevent or rectify it.”
The bill has its merits, thanks to a relentless push from Senate Democrats. Additions include four months of more generous unemployment benefits for the millions who will be laid off and a one-time check of $1,200 per adult, eliminating a Republican restriction that would have limited poor people to just $600 and phasing out payments for six-figure incomes. While not horrible, these items are crumbs compared the the massive money flowing to shareholders of large corporations. And who can trust a fund overseen by Secretary of the Treasure Steve Mnuchin, formerly an EVP at Goldman Sachs (and producer of the Entourage movie, but that’s another story)?
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