This Is the Only Way to End the Coronavirus Financial Panic
The Covid-19 crisis will take time to be solved by science. The economic crisis can be solved right now.
With President Trump proposing to send $1,000 checks to every American and industries, like the airlines, lining up for bailouts, there is a better way to arrest the panic.
I chronicled the 2008 financial crisis and spent the past week on back-to-back telephone calls with many of the experts who crafted that bailout, as well as the programs put in place after 9/11, Katrina, the BP oil spill and other crises. Now here is a thought experiment that could prevent what is quickly looking like the next Great Recession or even, dare it be mentioned, depression.
The fix: The government could offer every American business, large and small, and every self-employed — and gig — …continued .
[Source: New York Times]