3 ms·
IIRC the stimulus bill does not allow for stock buybacks. So, I am not sure how they're bailing out investors. Wait until the unemployment numbers are out in a
by readme 7y ago
IIRC the stimulus bill does not allow for stock buybacks. So, I am not sure how they're bailing out investors.
Wait until the unemployment numbers are out in a couple weeks. When the government shuts businesses down, people lose jobs.
Let's not forget everyone who has a 401k and was hoping to retire this year.
To add to how wrong this headline is, the government is literally sending everyone a check.
I am sure some guy on medium is more capable of sizing this up than our entire senate and house of representatives, though. You should trust him: it's corporate greed.
CSPAN is the place to go if you want to know what's really happening.
- erentz 7y agoThose rules are largely for show as Section 3 gives a provision allowing the treasury secretary to simply waive the rules: https://mobile.twitter.com/davidsirota/status/1242873747096227840 https://mobile.twitter.com/davidsirota/status/12428737470962...
- readme 7y agoThat's interesting, I had no idea. Puts a lot of power in Mnuchin's hands I guess. I think he does have our best interests in mind, though. Given this emergency though, and the amount of time it takes congress to even pass a bill like this, I would have to say I am not opposed to that clause. Yeah, the road to hell was paved with good intentions and so on. At the end of the day, you have to trust someone.
- jdmoreira 7y agoThe author is Nassim Taleb. A highly respect figure on HN among many other circles. You might have also heard of one of his books "The Black Swan"
- readme 7y agowell I stand corrected on that, it looks like he does have some experience with what he's writing about However I don't agree with the comparison of the 2008 bailouts with the current stimulus bill at all. Those definitely were corporate socialism, but I think we have progressed as a country since then.