Archiv: subsidies (1. for corporations „bailouts“ and / or 2. monetary injections into economic cycles „stimulus“)


08.07.2020 - 19:25 [ ec.europa.eu ]

State aid: Commission approves German fund to enable up to €500 billion of liquidity and capital support to enterprises affected by the coronavirus outbreak

The European Commission has approved German plans to set up a fund with a budget of up to €500 billion for providing guarantees and investing through debt and equity instruments in enterprises affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework.

20.05.2020 - 13:29 [ The Hill / Youtube ]

Krystal Ball: The hard truth about Bernie Sanders and why the Left is in despair

Krystal Ball discusses the future of the progressive movement after Dem leadership’s repeated rejection of progressive provisions to coronavirus relief bills.

06.05.2020 - 14:20 [ The Hill / Youtube ]

Krystal Ball: Will McConnell’s corporatist bailouts lose him re-election?

Krystal Ball discusses Mitch McConnell’s priority to confirm as many conservative judges as he can, as the Senator slows coronavirus relief funds to small businesses.

06.05.2020 - 14:11 [ Saagar Enjeti, Host of Rising w/ Krystal and Saagar / Twitter ]

After 9/11 we saw how small cadre of well connected neocon ideologues took us into war in Iraq Right now a small group of well connected TrueCon ideologues are orchestrating a similar campaign not to spend more government resources during worst economic crisis since depression

06.05.2020 - 13:16 [ the Hill ]

Battle brewing over how to get more relief money to Americans

Reducing payroll taxes is an idea championed by conservatives with connections to the president. They argue that it could be a way to encourage people to work …

14.04.2020 - 14:57 [ Counterpunch.org ]

BlackRock Takes Command

BlackRock’s CEO Larry Fink may now be the most powerful man in the world, overseeing not just the Fed’s new (potentially $4.5 trillion) corporate slush-fund, but also managing $27 trillion of the global economy (even before the March appointment). As the world’s largest asset manager, BlackRock already was managing $7 trillion for its global corporate investor-clients, along with another $20 trillion for clients through its financial risk-monitoring software (called Aladdin).

12.04.2020 - 11:20 [ theIntercept.com ]

It’s a Scandal That We Don’t Know Who Supported the Coronavirus Bailout. Help Us Find Out.

The Intercept has collected prominent public statements by individual members of Congress, but we also need readers to help us contact every lawmaker over phone, email, or social media. The chart below lists how each House member has indicated they would have voted, based on publicly reported information, along with those whose vote remains unclear. So far, Rep. Alexandria Ocasio-Cortez, D-N.Y., one of the few critics of the bill, is the only known House Democrat to oppose it.

08.04.2020 - 14:04 [ ABC News ]

Trump abruptly removes inspector general named to oversee $2T in stimulus spending

Glenn Fine, the acting Department of Defense inspector general, was set to lead the Pandemic Response Accountability Committee, the group of government watchdogs tasked with rooting out fraud and waste in coronavirus spending programs.

02.04.2020 - 14:22 [ The Jimmy Dore Show / Youtube ]

Why Are Progressives Voting For Ultimate Screwing Of America?

(video)

02.04.2020 - 14:17 [ Jimmy Dore / Twitter ]

What will be remembered is how our progressive leaders did worse than absolutely nothing during the ultimate screwing of America, you voted for it! and still have ZERO ideas for what to do right now. Progressive leadership is co-opted & worthless.

RentStrike/MortgageStrike

28.03.2020 - 09:20 [ LawAndCrime.com ]

Trump Axed Congressionally-Mandated Pandemic Recovery Oversight with Stimulus Bill Signing Statement

Trump, by way of a signing statement, noted that his administration would quite simply override a provision in the nearly 900-page stimulus bill that would require the country’s newest inspector general–just created and tasked with overseeing the disbursement of the stimulus funds–to report to Congress any time the administration stonewalled about where or how those funds were being spent.

28.03.2020 - 08:30 [ Huffington Post ]

Trump Claims Power To Gag Watchdog Overseeing New $500 Billion Bailout

President Donald Trump has issued a signing statement declaring that he can block a watchdog from telling Congress when information is withheld about payouts to businesses in the massive new $2 trillion economic relief law.

Democrats fought hard for provisions in the measure to ensure …

28.03.2020 - 08:19 [ Rand Paul, US Senator / Twitter ]

In times of panic, it is good to have someone with a cool, level MIT head asking the tough questions. Thank you @RepThomasMassie

28.03.2020 - 07:57 [ Thomas Massie, Abgeordneter im US Repräsentantenhaus / Twitter ]

Today I joined the Rush Limbaugh show with guest host @kenmatthews to talk about the unconstitutional attempt by leadership on both sides of the aisle to pass the LARGEST SPENDING BILL EVER without actually voting. Miss the interview? You can listen here:

28.03.2020 - 07:48 [ Mike Lee, US Senator / Twitter ]

I don’t know a member of Congress more principled or dedicated to the Constitution than @RepThomasMassie . @SpeakerPelosi delayed this process repeatedly and sent the House into recess before its job was complete. Big mistake!

28.03.2020 - 07:41 [ theHill.com ]

Massie defiant, criticizes leaders for preventing him from speaking on floor

Rep. Thomas Massie (R-Ky.) blasted Speaker Nancy Pelosi (D-Calif.) and House Minority Leader Kevin McCarthy (R-Calif.) on Friday for not allowing him to speak on the floor before the House approved a $2 trillion coronavirus stimulus package.

Massie had sought to force a roll-call vote on the measure, earning a condemnation from President Trump in the process and criticism from a number of members of Congress.

28.03.2020 - 07:30 [ theHill.com ]

Trump signs $2T coronavirus relief package

The passage did not come without drama: House lawmakers were forced to scramble back to Washington Friday over concerns a conservative lawmaker objecting to the legislation, Rep. Thomas Massie (R-Ky.), would force a roll call vote.

28.03.2020 - 07:03 [ theHill.com ]

House passes $2 trillion coronavirus package — but not without last-minute drama

“This is a 9/11 moment,” Rep. Dan Newhouse (R-Wash.) said on the floor. “A time to put partisan differences aside, policy differences aside, and work together as Americans.”

28.03.2020 - 07:00 [ Politico.com ]

Coronavirus: Washington quietly prepares a bank rescue — just in case

(27.03.2020)

Tucked inside Congress‘ $2 trillion economic rescue package for America is sweeping authority for the government to come to the aid of the one industry that has insisted it doesn’t need a bailout: the big banks.

27.03.2020 - 18:21 [ Washington Post / Youtube ]

WATCH LIVE: House debates $2 trillion coronavirus emergency relief bill

House Speaker Nancy Pelosi (D-Calif.) and Minority Leader Kevin McCarthy (R-Calif.) agreed to approve the measure with a voice vote Friday that would not require all 430 current members of the House to travel to the Capitol, given that two lawmakers have contracted the disease and others are self-quarantining due to exposure to confirmed carriers.The leadership also is taking meticulous steps to change the protocol for debate and voting to ensure the safety of lawmakers.

One lawmaker, Rep. Thomas Massie (R-Ky.) is threatening to stymie swift passage of the stimulus bill, potentially delaying a vote until the weekend.

27.03.2020 - 18:18 [ Sunrise Movement / Twitter ]

House Dems have their hands tied, they can either: 1)Vote yes for a corporate bailout that does little to help working people or 2) Vote no on the stimulus bill that’s the only plan on the table before Congress goes on recess for a month As @AOC said, these options are shameful

27.03.2020 - 18:05 [ courier-journal.com ]

Trump calls for ousting GOP congressman from party ahead of coronavirus relief vote

„Looks like a third rate grandstander named (Thomas Massie), a congressman from, unfortunately, a truly GREAT state, Kentucky, wants to vote against the new Save Our Workers Bill in Congress,“ Trump tweeted early Friday.

Massie’s office did not immediately respond to a request for comment, but the congressman signaled he was moving forward despite bipartisan calls to forgo calling for a roll call vote.

27.03.2020 - 17:55 [ Thomas Massie, Abgeordneter im US Repräsentantenhaus / Twitter ]

(8/11) This bill creates even more secrecy around a Federal Reserve that still refuses to be audited. It allows the Federal Reserve to make decisions about who gets what, how much money we’ll print. With no transparency.

27.03.2020 - 17:12 [ The Hill / Twitter ]

Rep. @AOC : „What did the Senate majority fight for? One of the largest corporate bailouts with as few strings as possible in American history. Shameful!“

27.03.2020 - 11:54 [ Justin Amash, Abgeordneter im US Repräsentantenhaus / Twitter ]

Just ten years after the Tea Party movement, Republicans in Congress are defending a $500 billion corporate welfare fund for a select group of large companies.

27.03.2020 - 08:19 [ p2a.co ]

Congress must remove the Mnuchin corporate slush fund and put the American people first.

On March 25th, The Senate voted to pass the 3rd coronavirus relief package based on the proposal from Mitch McConnell and Senate Republicans that features, among other provisions, a nearly $500 billion slush fund that would be controlled by Treasury Secretary Steve Mnuchin. Mnuchin, who is best known for making millions off running a notorious foreclosure mill, would be able to direct corporate bailouts with limited, after-the-fact oversight. This is absolutely unacceptable.

27.03.2020 - 08:11 [ CommonDreams.org ]

‚Looting of America by Big Corporations‘: Progressives Appalled as Senate Unanimously Passes Largest Bailout Bill in US History

By a vote of 96-0, the United States Senate Wednesday night passed an enormous coronavirus stimulus package that would provide some desperately needed economic relief to struggling workers and the unemployed while establishing a $4.5 trillion fund to bail out large corporations—with little to no enforceable restrictions.

Progressives didn’t mince words in response to the unanimous vote, which sends the largest bailout legislation in U.S. history to the Democrat-controlled House of Representatives, where it could pass as early as Friday before heading to President Donald Trump’s desk for his signature.

27.03.2020 - 07:07 [ Huffington Post ]

Democrats Are Handing Donald Trump The Keys To The Country – The Senate coronavirus bill is shocking.

Democrats control the House. They can pass any bill they like and dare Senate Republicans and the president to oppose a serious bill for a serious problem.

Or they can rubber-stamp the Senate bill and help Donald Trump foreclose on the next generation of American democracy.

26.03.2020 - 06:49 [ New York Times ]

The Senate unanimously passed a $2 trillion stimulus plan.

The legislation would send direct payments of $1,200 to Americans earning up to $75,000 — which would gradually phase out for higher earners and end for those with incomes more than $99,000 — and an additional $500 per child. It would substantially expand jobless aid, providing an additional 13 weeks and a four-month enhancement of benefits, extending them for the first time to freelancers and gig workers and adding $600 per week on top of the usual payment.

25.03.2020 - 03:13 [ Reuters ]

U.S. Fed hires BlackRock to help execute mortgage-backed securities purchases

The U.S. Federal Reserve has hired asset management giant BlackRock to help it execute the purchase of commercial mortgage-backed securities announced this week as part of the central bank’s aggressive efforts to shore up the U.S. economy.

25.03.2020 - 02:54 [ Washington Post ]

Congress, White House close in on $2 trillion stimulus deal to blunt coronavirus fallout

Congress and the Trump administration on Tuesday closed in on a massive $2 trillion stimulus package to address economic fallout from the coronavirus, as lawmakers reviewed final language and the Senate aimed for a swift vote.

22.03.2020 - 13:06 [ Matt Stoller ]

Stop the Coronavirus Corporate Coup

And there’s a precedent.

In 2008, when Congress was on the brink of passing a $700 billion bailout to Wall Street, something astonishing happened. A motley bipartisan group of roughly a hundred members, as well as outside experts, formed what was called the „Skeptic’s Caucus,“ and organized enough votes to take down the package. Congressional leaders then attached some minor tweaks, and forced the package through after the stock market crashed. Ultimately, the skeptics failed, and the bailouts ended up shifting power and wealth to an unaccountable elite class.

But for that brief moment, it became clear that opposition to Congressional leadership on corporate subsidies is possible. We will need another Skeptic’s caucus, and quickly.

17.03.2020 - 21:12 [ CNBC Now / Twitter ]

Dow rebounds more than 1,000 points as Trump seeks $1 trillion in stimulus for coronavirus fight

17.03.2020 - 21:09 [ Fox News ]

Trump wants to send Americans checks ‘immediately’ in response to coronavirus, Mnuchin says

“We’re looking at sending checks to Americans immediately,” Mnuchin said during a press briefing from the White House. “Americans need cash now, the president wants to get cash now. I mean now—in the next few weeks.”

17.03.2020 - 21:06 [ Washington Post ]

White House expresses support for making immediate cash payments to Americans as part of coronavirus stimulus package

“We’re looking at sending checks to Americans immediately,” Treasury Secretary Steve Mnuchin said Tuesday. “And I mean now, in the next two weeks.”

10.03.2020 - 09:17 [ Forbes ]

The Fed’s $16 Trillion Bailouts Under-Reported

(20.09.2011)

It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

Sen. Bernie Sanders (I-VT) amended the Wall Street Reform law to audit the Fed, pushing the GAO to step in and take a look around.

10.03.2020 - 09:10 [ CNN Money ]

CNNMoney.com’s bailout tracker

Troubled ASSET RELIEF PROGRAM
Financial rescue plan aimed at restoring liquidity to the financial markets

(…)

Committed : $11 trillion (total)
Invested: $3 trillion (total)

10.03.2020 - 09:01 [ Naomi Klein / Twitter ]

Folks, real talk: we are now the edge of a global economic crisis. The last time this happened, the Biden wing of the Dem party handed trillions to the banks who created the crisis, did not prosecute, and let workers, students and homeowners pay the price. Do not do it again.

07.03.2020 - 22:10 [ Matt Stoller / Twitter ]

The entire 2020 primary is about whether Democrats can come to grips with what a shitty President Obama was. The answer appears to be no they cannot.

16.02.2020 - 13:32 [ Newsweek ]

Jane Sanders Says Bernie Campaign Will Remove ‚Powers-That-Be‘ From Government: ‚We Already Have Corporate Socialism‘

Sanders, the wife of Vermont Senator Bernie Sanders, told Fox News Saturday the „powers-that-be“ in America are placing a shallow focus on her husband’s „Democratic socialist“ label instead of what they’re really attacking — his campaign policies. Jane Sanders said „corporate socialism“ has benefited billionaires like President Donald Trump and Michael Bloomberg, while hard-working U.S. taxpayers end up paying for their business subsidies and bailouts.

13.02.2020 - 16:26 [ Jason Groves, Political Editor of the Daily Mail / Twitter ]

I’m told Dominic Cummings opposed the appointment of Andrew Bailey as Governor of the Bank of England. Outmaneuvered by Javid – adding to the reasons he wanted the Chancellor reined in

13.02.2020 - 16:24 [ Sebastian Payne, @FinancialTimes Whitehall correspondent / Twitter ]

Some chatter from inside the Treasury: one of the reasons Dominic Cummings was angry with Sajid Javid was the Bank of England governor. Cummings wanted Andy Haldane as the candidate most attuned to „levelling up“ but Javid managed to secure it for Andrew Bailey. #reshuffle

13.02.2020 - 16:08 [ Investmentweek.co.uk ]

Market Movers Blog: Chancellor resignation boosts sterling as investors expect ‚aggressive‘ fiscal spending

Commenting on the market reaction, Adam Seagrave, head of global sales trading at Saxo Markets, said: “The initial reaction has been weaker GBP but we are now seeing a rally to a new high. This is presumably the market interpreting the announcement as Boris wanting advisors who are more willing to back aggressive fiscal stimulus.”

27.01.2020 - 12:42 [ Bernie Sanders, candidate for President / Twitter ]

Here’s the truth: the billionaire class is fine with corporate socialism when it means they get billions in tax breaks and bailouts.

08.12.2019 - 18:00 [ Haaretz ]

Needed: A Commission of Inquiry Into the Submarine Affair

The corruption involved in the purchase of submarines and ships from the German shipbuilder ThyssenKrupp makes it among the worst such affairs in Israel’s history. It involves bribery, fraud, breach of trust and money laundering by a criminal network that functioned at the highest levels of Israel’s government and business people between 2009 and 2019 , funnelling government funds from the defense budget into private pockets, by swaying decisions regarding purchases from the German shipbuilder.

06.12.2019 - 16:47 [ Haaretz ]

Damage to Israel’s Security Inflicted by Submarine Affair Will Linger for Decades

The agreement with ThyssenKrupp included provisions for what would happen if corruption were discovered on the German end; in that situation, the corporation would be able to cancel the existing deals. But it included no provisions on what would happen if corruption were discovered on the Israeli end.

06.12.2019 - 16:37 [ i24news.tv ]

Netanyahu lawyer to be charged with money-laundering: judiciary

Israel’s attorney general said Thursday he intends to charge the personal lawyer of Prime Minister Benjamin Netanyahu with money-laundering in the state’s purchase of submarines from German firm Thyssenkrupp.

The justice ministry said that charges were also expected against a businessman who represented the firm in Israel and against a former head of the Israeli navy.

10.09.2019 - 17:47 [ Guido Fawkes ]

Treasury’s Remain Plot To Ensure an Anti-Brexit Governor of the Bank of England

A leaked shortlist for the next Governor of the Bank of England made its way from the highest levels of the Treasury to the pages of The Times last Saturday, and has now been followed up by an orchestrated letter signed by Remain supporting MPs. The letter is a not-so-subtle attempt to confirm the leak by making the Civil Service’s recommendation list public and therefore making it politically harder for the Chancellor to appoint a Brexiteer to the role.

10.08.2019 - 08:35 [ Daily Mail ]

No Deal Brexit bailout fund to stop some of Britain’s biggest employers going out of business if the UK crashes out the EU is being planned by Boris Johnson’s ‚war cabinet‘

– The Prime Minister has created a list of British employers considered at risk
– It comes after the country’s economy shrunk for first time in seven years
– Economy is the lowest it has been in a decade, prompting fears of recession

26.07.2019 - 18:34 [ Bloomberg ]

Draghi Shouts Louder at Germany as ECB Prepares Stimulus

(25.07.2019)

Yet Germany, which has a budget surplus and which can borrow money at sub-zero rates, doesn’t see the problem even as its own manufacturing sector contracts. Finance Minister Olaf Scholz told Bloomberg Television on Thursday, minutes before Draghi’s press conference, that he has no plans to loosen the country’s purse strings because it’s not “necessary or wise to act as if we were in a crisis.”

09.07.2019 - 19:55 [ Bernie Sanders, candidate for President / Twitter ]

Republicans have no problem giving over $1 trillion in tax breaks to the rich and massive corporations. But when it comes to canceling student debt or tuition-free college, we „can’t afford it.“ What hypocrisy!

16.06.2019 - 12:07 [ Times of India ]

Pakistan to present austerity-centred budget following IMF deal

(11.06.2019)

Analysts have warned the IMF deal would likely come with myriad restrictions that could bridle Khan’s grand promises to build an Islamic welfare state, as the country is forced to tighten its purse strings.

Pakistan’s increasing economic woes also come as the country is facing possible sanctions from the Financial Action Task Force — a money-laundering monitor based in Paris — for failing to rein-in terror financing.

13.06.2019 - 10:15 [ CNN Money ]

CNNMoney.com’s bailout tracker

Troubled ASSET RELIEF PROGRAM
Financial rescue plan aimed at restoring liquidity to the financial markets

Committed : $11 trillion (total)
Invested: $3 trillion (total)

13.06.2019 - 10:08 [ Bernie Sanders, candidate for President / Twitter ]

Trump loves socialism… for billionaires and massive corporations.

13.06.2019 - 09:56 [ Bernie Sanders, candidate for President / Twitter ]

I didn’t hear Jamie Dimon criticizing socialism when Wall Street begged for the largest federal bailout in American history—some $700 billion from the Treasury and even more from the Fed.

31.03.2019 - 15:08 [ Washington Post ]

Did Wall Street get a ‘trillion-dollar bailout’ during the financial crisis?

(18.3.2019)

Sanders, who is running for the Democratic presidential nomination, includes a version of this line in his stump speeches — as part of a slew of statements that he says demonstrates how the system is rigged in favor of the rich and powerful.

But his language is a bit slippery and exaggerated.

31.03.2019 - 15:01 [ Forbes ]

The Fed’s $16 Trillion Bailouts Under-Reported

(20.9.2011)

The audit of the Fed’s emergency lending programs was scarcely reported by mainstream media – albeit the results are undoubtedly newsworthy. It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

Sen. Bernie Sanders (I-VT) amended the Wall Street Reform law to audit the Fed, pushing the GAO to step in and take a look around.

11.10.2018 - 11:31 [ Dawn ]

Pakistan formally seeks financial assistance from IMF

Lagarde said in a statement that the request came during her meeting with Finance Minister Asad Umar and State Bank Governor Tariq Bajwa on the sidelines of the IMF and World Bank annual meetings in Bali.

09.06.2018 - 18:20 [ Independent.co.uk ]

Italy agrees to €17bn bailout of two more banks in biggest ever rescue plan

(26.6.2017) Depositors were at risk so the state had to stop in to to save Banca Popolare di Vicenza and Veneto Banca, Prime Minister Paolo Gentiloni said