Bailout Bill Betrayal: Trump Gets Keys To The Country
The emergency coronavirus legislation that the Senate agreed to on Tuesday can only be described as an outrage. It is not an economic rescue package, but a sentence of unprecedented economic inequality and corporate control over our politics that will resonate for a generation.
It represents a transfer of wealth and power to the super rich from the rest of us, with the support of both political parties ― a damning statement about the condition of American democracy.
Final text of the bill has not been released, but according to a legislative draft, the new law would establish a $4.5 trillion corporate bailout fund overseen by Treasury Secretary Steve Mnuchin, with few substantive constraints. Some outlets are reporting this as a $500 billion fund, but $425 billion of that can be leveraged 10 times …continued .
[Source: Huffington Post]