US Politics XXI: Old Man 3-Way
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DaveC
Blue Crack Addict
first of all that has absolutely nothing to do with "stopping the billionaires".
second, bernie wouldn't tweet out something as stupid and banal as "i'm asking CEOs to commit to doing something for all of one year that will make no difference anyways", so that's kind of a moot point.
as if companies committing to not doing buybacks for a year wouldn't just hoard that cash and do the buyback on day 366, or just give the entire c-suite a raise. none of that money will do anything for the mid/lower-level employees.
but maybe this time trickle-down economics will work!
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MrsSpringsteen
Blue Crack Addict
At least other reporters came to his defense, including the CNN WH reporter. Kaitlyn sp? Collins. I think she's a very good reporter who is fair to Trump, from what I've seen.
The NBC reporter asked the same question to Pence that Trump went ballistic over. Pence just answered the question. I had to turn it off, can't take it.
We have a President who goes ballistic like a fool against reporters who get in the way of him pretending and trying to create his own narrative. Even freaking Fox News is finally coming to grips with reality in terms of this virus.
mikal
Blue Crack Addict
The next time Biden tweets something with good intentions, I'll have him pass it thru you and phillyfan126 for approval.
DaveC
Blue Crack Addict
good intentions don't magically turn a bad idea into a good idea.
DaveC
Blue Crack Addict
MrsSpringsteen
Blue Crack Addict
Thanks, that's what I was talking about in the pandemic thread. Deep state department, what a freakshow. And Pompeo laughed at that. Way to support your colleagues Mike!
Also Sean Spicer was there in the press corps lol
BVS
Blue Crack Supplier
Captain Bone Spurs McCranky Pants sounds like he may need a nap.
Now Cult45 and those that pretend they don’t worship the guy will cheer this on and won’t even realize he wasn’t “reporting” but actually giving Trump a chance to be leader and comfort the people, but the rest see a manchild who they wouldn’t even want to see run an ice cream truck.
I say you sleep deprive Joe and Don 24 hrs leading into the first debate, that would be one of the most entertaining debates in history.
womanfish
Rock n' Roll Doggie ALL ACCESS
I'm just glad having hours long coverage of the "task force" and Trump blathering on about how great he is, really seems to be helping.
mikal
Blue Crack Addict
I think you guys are being overboard with your criticism, personally. Seems like nitpicking.
Airlines used a lot of bailout and tax cut money on stock buybacks. It's why they don't have any cash reserves. It's been a major talking point in relation to our current situation regarding bailouts.
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DaveC
Blue Crack Addict
i'm not nitpicking. the whole idea is bad and i told you why. the cash won't be used to help the workers unless these companies are mandated to do so. a polite request that they rein in their greed just a little bit for 365 days is not going to accomplish anything for the people who are about to lose their jobs while their employer gets a massive bailout.
if these corporations are legally bound to stop buybacks permanently (or only allowed to do it in certain restrictive circumstances) and required to reinvest in their workforce instead as a condition of receiving bailout money, then it might actually accomplish something. an entirely voluntary one-year pinky-swear is a joke.
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LuckyNumber7
Blue Crack Addict
They should make a pandemic and national emergency act that permits the federal government to require that companies that are profitable during this time period to take care of society imo.
Yea... and Biden has zero power to mandate that. All he can do is get them to make public pronouncements. Yes, they have no teeth. But it's not nothing.
Only the president and Congress can actually mandate it.
Jerry Dunk
Refugee
I'm not nitpicking. Biden isn't going to magically become a different person. Sanders isn't going to "push him" left. He's a centrist at best, and has been his entire career. His policies will be similar to what Obama did in 2009, which is to say, extremely friendly to big business and largely ignoring the working class.
This isn't me speculating on what he's going to do. It's taking his entire career into consideration and seeing what he did. This isn't projection or my "preconceived notions." It's Biden's own!
This isn't me speculating on what he's going to do. It's taking his entire career into consideration and seeing what he did. This isn't projection or my "preconceived notions." It's Biden's own!
DaveC
Blue Crack Addict
as it is, it actually is nothing.
if he followed that up with his own pledge to get that written into law or pass an executive order to that effect if/when he becomes president, then it might be something.
He wouldn't be president for 9 months. A pledge to have something written in to law in 9 months that is happening right now would be stupid as hell.
DaveC
Blue Crack Addict
share buybacks and failing companies demanding government bailouts are still going to be a thing next year.
Hewson
Blue Crack Supplier
As bad as Pence is, at least he displays some modicum of decorum and respectfulness when he's at the podium (aside from when he's tossing Trump's salad).
Great. It's also a thing right now.
Forget share buybacks.
These companies (airlines) should be nationalized and that’s that.
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LuckyNumber7
Blue Crack Addict
It would be spectacular if we could stop railing the irresponsible airlines for being irresponsible and focus more on the impact that their failures would have.
Keep in mind, the only reason they fail is because we agree that the number one thing this society will not accept is failure to pay the lender.
To me, circumstances have changed, and putting a pause on debt and a pause on our society is important. Banks can take a fucking hit, we took a hit for them in 2008.
Keep in mind, the only reason they fail is because we agree that the number one thing this society will not accept is failure to pay the lender.
To me, circumstances have changed, and putting a pause on debt and a pause on our society is important. Banks can take a fucking hit, we took a hit for them in 2008.
The problem is that they are not the only industry that will almost certainly fail. Hospitality (hotels, restaurants, tourism-related businesses) are done. Oil & gas companies will need massive bailouts. And that's just to start.
There isn't enough $ to go around and you have to stabilize the economy - which means honouring the debt holders. It's not about banks taking "a fucking hit" - it's about all the other businesses that will be reliant on banks to have liquidity and access to credit facilities.
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LuckyNumber7
Blue Crack Addict
I never said that they’re the only industry. Come on now.
What I’m suggesting is that all of these industries freeze at once.
If you don't honour their debtholders then those same debtholders (financial institutions) will not have liquidity available to assist businesses that are still running, but in a decreased capacity (due to supply chain issues, fewer people shopping, infrastructure projects being cancelled, etc, etc). So now you have not only crippled the industries that are bound to fail, but ones that wouldn't be failing but for their lack of access to credit.
A separate conversation should be had about what conditions and covenants should be placed on any industry or business that is the recipient of a bailout. Elizabeth Warren is right about this - it must be comprehensive and stringent so that you don't get the ultra wealthy stuffing their pockets yet again when this is all over.
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LuckyNumber7
Blue Crack Addict
Assist businesses that are still running? Point me to a financial institution that is “assisting” anyone right now without gain.
Most of the current financial institutions are in great health right now and can take a hit. My credit card company gave me the same bullshit email that the airlines gave me about their covid response, reminding me that I can pay my bill online.
They should be telling me that they’ve reduced interest on my credit card to 2% as a mercy for emergency times, because yes, they can survive without claiming 25% on people who don’t pay in the face of a pandemic. Not that I currently can’t, but the notion of “paying up or else” will cause numerous industries to fail in a domino effect.
I don't like the banks either and I don't think they should be enriching themselves while everyone suffers. But they do need to borrow $ - they have a funding cost and the markets are going wild so their short-term borrowing costs are very high right now. Something to consider.
My guess is that the governments will forbid the banks from paying a dividend as a start.
Magnus Maximus
The Fly
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It seemed before deregulation of the Arline's in the eary 80's we had more carriers and more competition. After de reg we lost TWA, Braniff, Pan Am, Conti, N Eastern etc etc. Now we really only have Delta, American and united. (yeah the lost cost SE, JB etc) But we certainly saw a lot of consolidation in the industry.
Magnus Maximus
The Fly
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I agree, as I stated in the past big business can crush you just as bad is big government. There has to be a balance. But a balance calls for altruism and we ain't getting any of that.
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