Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread Louis Proyect via Marxism

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On 3/31/20 9:06 PM, J.B. Nicholson via Marxism wrote:
Over recent weeks Dore has grown increasingly critical of the Democratic 
Party and the notion that anyone can reform that party from within. That 
party has given Americans plenty of reason to justify strong criticism 
over the past few years.


Yeah. Obviously. All them neo-Kautskyites have figured out that Elvis 
left the building. Too bad they don't have a clue where to go next. 
Yeah, well, I was stupid myself when I was their age. Glad I learned 40 
years ago to become self-critical.


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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread John Edmundson via Marxism
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Also, you can't spin slinging the word cocksucker at someone as an insult
as ""I'm sorry I shouldn't -- there's some
people who get offended when I say 'cocksucker' in a derogatory way. I love
having my
cock sucked. And I respect all cocksuckers." Does he really think we're
going to believe that when he uses the term as a pejorative, we're going to
think, ah, right, he's just letting us know how much "respect" he has for
the person?

I agree that language choice is not the highest priority issue at the
moment but he called his political opponents slags, whores and faggots I
think he'd raise a few eyebrows and rightly so. Choice of words always
matters.

Cheers,
John

On Wed, Apr 1, 2020 at 1:18 PM Louis Proyect via Marxism <
marxism@lists.csbs.utah.edu> wrote:

>   POSTING RULES & NOTES  
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> *
>
> On 3/31/20 7:42 PM, J.B. Nicholson via Marxism wrote:
> > Around 16 minutes into https://www.youtube.com/watch?v=SX3DDvrbPmM he
> > addresses this choice of language from himself. He said, "I'm sorry I
> > shouldn't -- there's some people who get offended when I say
> > 'cocksucker' in a derogatory way. I love having my cock sucked. And I
> > respect all cocksuckers.". I remain unconvinced that petty namecalling
> > and ugly language is the important take-away message as people lose
> > their lives during this pandemic and now stand to lose their income and
> > homes (maybe even more) even if they live, all while seeing their
> > self-described "progressive" Congressional representatives and so-called
> > "progressive" media support the largest business bailout without a fight.
>
> This is a curse used against man, not women. Dore knows this but evades
> its obvious meaning. Dore is a two-bit shock jock whose politics are
> coming from the same general area as Chapo Trap House and targeting the
> same market. A few years from now when this Sandernista crap has passed
> its shelf life, we'll look back at Jacobin, DSA, Joe Rogan, Jimmy Dore,
> A. O-C and wonder what the fuck was wrong with the left at the time. Put
> briefly: careerism.
>
> _
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-- 
The law locks up the man or woman
Who steals the goose from off the common
But leaves the greater villain loose
Who steals the common from the goose
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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread John Edmundson via Marxism
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Sorry, didn't see that John O'Brien had already made the point I was trying
to make.

On Wed, Apr 1, 2020 at 1:51 PM John Edmundson 
wrote:

> Also, you can't spin slinging the word cocksucker at someone as an insult
> as ""I'm sorry I shouldn't -- there's some
> people who get offended when I say 'cocksucker' in a derogatory way. I
> love having my
> cock sucked. And I respect all cocksuckers." Does he really think we're
> going to believe that when he uses the term as a pejorative, we're going to
> think, ah, right, he's just letting us know how much "respect" he has for
> the person?
>
> I agree that language choice is not the highest priority issue at the
> moment but he called his political opponents slags, whores and faggots I
> think he'd raise a few eyebrows and rightly so. Choice of words always
> matters.
>
> Cheers,
> John
>
> On Wed, Apr 1, 2020 at 1:18 PM Louis Proyect via Marxism <
> marxism@lists.csbs.utah.edu> wrote:
>
>>   POSTING RULES & NOTES  
>> #1 YOU MUST clip all extraneous text when replying to a message.
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>> #3 Subscribe and post under an alias if #2 is a concern.
>> *
>>
>> On 3/31/20 7:42 PM, J.B. Nicholson via Marxism wrote:
>> > Around 16 minutes into https://www.youtube.com/watch?v=SX3DDvrbPmM he
>> > addresses this choice of language from himself. He said, "I'm sorry I
>> > shouldn't -- there's some people who get offended when I say
>> > 'cocksucker' in a derogatory way. I love having my cock sucked. And I
>> > respect all cocksuckers.". I remain unconvinced that petty namecalling
>> > and ugly language is the important take-away message as people lose
>> > their lives during this pandemic and now stand to lose their income and
>> > homes (maybe even more) even if they live, all while seeing their
>> > self-described "progressive" Congressional representatives and
>> so-called
>> > "progressive" media support the largest business bailout without a
>> fight.
>>
>> This is a curse used against man, not women. Dore knows this but evades
>> its obvious meaning. Dore is a two-bit shock jock whose politics are
>> coming from the same general area as Chapo Trap House and targeting the
>> same market. A few years from now when this Sandernista crap has passed
>> its shelf life, we'll look back at Jacobin, DSA, Joe Rogan, Jimmy Dore,
>> A. O-C and wonder what the fuck was wrong with the left at the time. Put
>> briefly: careerism.
>>
>> _
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>> Set your options at:
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>>
>
>
> --
> The law locks up the man or woman
> Who steals the goose from off the common
> But leaves the greater villain loose
> Who steals the common from the goose
>


-- 
The law locks up the man or woman
Who steals the goose from off the common
But leaves the greater villain loose
Who steals the common from the goose
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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread J.B. Nicholson via Marxism

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Louis Proyect via Marxism wrote:

A few years from now when this Sandernista crap has passed its shelf life, we'll
look back at Jacobin, DSA, Joe Rogan, Jimmy Dore, A. O-C and wonder what the 
fuck
was wrong with the left at the time. Put briefly: careerism.
While I think it would be fair to accuse Jimmy Dore of being naive and 
misunderstanding certain structural power (such as what Bruce Spiva, DNC lawyer, laid 
out clearly to the court about what the DNC can do to choose its standards bearer), I 
don't think your description fairly characterizes what Dore is saying about Sanders, 
Ocasio-Cortez, and other politicians in power now. Dore went from being remarkably 
supportive of Tulsi Gabbard (to the point of being conspicuously silent about her 
inconsistencies and clear statements of party loyalty) to including her in his 
criticism as she endorsed pro-war Joe Biden. Over recent weeks Dore has grown 
increasingly critical of the Democratic Party and the notion that anyone can reform 
that party from within. That party has given Americans plenty of reason to justify 
strong criticism over the past few years.


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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread John Obrien via Marxism
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The response to the homophobia Jimmy Dore states today:

"theres some people who get offended" (read queers and queer lovers)
and he "remains unconvinced" - citing the pandemic crisis does not deserve 
recognizing his homophobic insults.


Always an excuse to not address homophobia, as the same excuse for racism and 
sexism not being addressed.
And usually it is the same privileged who contend "there are always too many 
important other issues to deal with".

But it seems there is always time to keep using homophobia - strange how that 
works, when people do not want to accept
and recognize their wrongs!   Time always for wrong and no effort to be better.



From: Marxism  on behalf of J.B. Nicholson 
via Marxism 
Sent: Tuesday, March 31, 2020 4:42 PM.

John Obrien via Marxism wrote:
> Jimmy Dore spews constant homophobia, such as with his favorite use of
> "cocksucker" as a perjorative and few challenge him for doing such - reflects 
> the
> homophobia still acceptable on much of U.S. left - "as funny".

Around 16 minutes into 
https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DSX3DDvrbPmMdata=02%7C01%7C%7C59f8cda19bc04e60980708d7d5cdec28%7C84df9e7fe9f640afb435%7C1%7C0%7C637212952710012476sdata=58vG9UhNDcdl57f6W%2Bnqvn%2Bdv%2BbN60qEw59G%2F2PVTyY%3Dreserved=0
 he addresses this
choice of language from himself. He said, "I'm sorry I shouldn't -- there's some
people who get offended when I say 'cocksucker' in a derogatory way. I love 
having my
cock sucked. And I respect all cocksuckers.". I remain unconvinced that petty
namecalling and ugly language is the important take-away message as people lose 
their
lives during this pandemic and now stand to lose their income and homes (maybe 
even
more) even if they live, all while seeing their self-described "progressive"
Congressional representatives and so-called "progressive" media support the 
largest
business bailout without a fight.

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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread Louis Proyect via Marxism

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On 3/31/20 7:42 PM, J.B. Nicholson via Marxism wrote:
Around 16 minutes into https://www.youtube.com/watch?v=SX3DDvrbPmM he 
addresses this choice of language from himself. He said, "I'm sorry I 
shouldn't -- there's some people who get offended when I say 
'cocksucker' in a derogatory way. I love having my cock sucked. And I 
respect all cocksuckers.". I remain unconvinced that petty namecalling 
and ugly language is the important take-away message as people lose 
their lives during this pandemic and now stand to lose their income and 
homes (maybe even more) even if they live, all while seeing their 
self-described "progressive" Congressional representatives and so-called 
"progressive" media support the largest business bailout without a fight.


This is a curse used against man, not women. Dore knows this but evades 
its obvious meaning. Dore is a two-bit shock jock whose politics are 
coming from the same general area as Chapo Trap House and targeting the 
same market. A few years from now when this Sandernista crap has passed 
its shelf life, we'll look back at Jacobin, DSA, Joe Rogan, Jimmy Dore, 
A. O-C and wonder what the fuck was wrong with the left at the time. Put 
briefly: careerism.


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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread J.B. Nicholson via Marxism

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John Obrien via Marxism wrote:

Jimmy Dore spews constant homophobia, such as with his favorite use of
"cocksucker" as a perjorative and few challenge him for doing such - reflects 
the
homophobia still acceptable on much of U.S. left - "as funny".


Around 16 minutes into https://www.youtube.com/watch?v=SX3DDvrbPmM he addresses this 
choice of language from himself. He said, "I'm sorry I shouldn't -- there's some 
people who get offended when I say 'cocksucker' in a derogatory way. I love having my 
cock sucked. And I respect all cocksuckers.". I remain unconvinced that petty 
namecalling and ugly language is the important take-away message as people lose their 
lives during this pandemic and now stand to lose their income and homes (maybe even 
more) even if they live, all while seeing their self-described "progressive" 
Congressional representatives and so-called "progressive" media support the largest 
business bailout without a fight.


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[Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread John Obrien via Marxism
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Jimmy Dore spews constant homophobia, such as with his favorite use of 
"cocksucker" as a perjorative

and few challenge him for doing such - reflects the homophobia still acceptable 
on much of U.S. left - "as funny".






Thanks for making your last paragraph a breakdown of how terrible Jimmy Dore is 
so that no one else has to chime in to point out he's an awful person in 
general and certainly an awful "leftist".

Tristan

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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread Ralph Johansen via Marxism

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It would have been helpful (but improbable and 'impolitic' I guess) if 
AOC and others, in the midst of the pernicious backroom negotiations on 
this massive handout to capital ('disaster capitalism' in motion), with 
whatever bully pulpit access to media they could muster, early on, 
including speeches on the House floor, had described in more explicit 
and accessible language the dirty specifics of the bill, as have Mike 
Whitney and to a limited extent Jimmy Dore ... if they had, more 
importantly, attempted to mobilize their constituents and to bring them 
out in the streets against this hand-over of our future well-being, 
perhaps survival, part of a monstrous plan of total subjugation, to 
implacable class enemies. Did any of these 'progressives' ('vote for a 
woman.' as if women were class-exempt) attempt to do that? Of course not 
- they maneuver in a parliamentary setting that precludes that. How roll 
logs on behalf of your business and middle class constituents, and grab 
onto influential Congressional committee sinecures to ensure that 
process, committee assignments granted and withheld by Congressional 
party disciplinarians -- and reelection?


I have problems with the term 'progressive.' It manages to conflate and 
confuse liberal reformism and root and branch radical socialism to the 
detriment of the latter, and that misleads a whole lot of people. 
Unfortunately, Jimmy Dore falls into that mode, and I question whether 
he really understands the difference. Call a spade a spade - socialism 
is socialism, reformism is reformism. The latter may have its place in 
giving people space to survive to realize the latter, but we risk 
fooling ourselves: we are not emancipated by tweaking and fooling around 
with a system fundamentally incompatible with our emancipation from an 
ideology and practice of alienation and self-destruction.


[I'm quoting all that Dayne contributed, although it might seem 
extraneous, to illustrate the differences and similarities, down to 
Jimmy Dore [rightly] identifying himself and Democracy Now! with 
'progressive media.' Both make good points but don't connect the dots. 
They don't lead their audience beyond reformism. They haven't read their 
Marx - carefully.]



Dayne Goodwin via Marxism wrote:

   AOC blasts 'shameful' $2 trillion coronavirus stimulus bill for
   bailing out
   corporations


She raised some correct points in her rant. But don't let her empty 
theatrics ("blast") fool you. She didn't shame anyone but herself. She 
voted for that bill.


Instead of mobilizing 'the squad' and sympathetic Republicans to work 
against the bill including stalling it while the public is made aware of 
its many shortcomings, the so-called progressives gave grandstanding 
speeches like AOC's aforementioned speech. Instead of voting against the 
bill and being in a position to say she was looking out for her 
constituents' interests (even if the bill passed it wouldn't have been 
because of her), she now joins Tulsi Gabbard, Ayanna Pressley, Ro 
Khanna, Elizabeth Warren, Ilhan Omar, "and anyone else who wants to call 
themselves a progressive" (as Jimmy Dore said) in voting for this 
massive big business bailout bill that is the largest wealth transfer. 
That one-time $1,200 check some Americans will get won't purchase what 
Americans need and deserve.


Jimmy Dore has been making YouTube videos on this recently 
(https://www.youtube.com/user/TYTComedy/videos is his channel) including 
pointing out how shameful it is to think that AOC's arm-waving speech is 
in any way comparable to Congressional votes 
(https://www.youtube.com/watch?v=EfOPSq705To), how California's 3-month 
mortgage payment moratorium is going to be followed by allowing banks to 
demand all of those unpaid payments on month 4 
(https://www.youtube.com/watch?v=yQmn9o6NZVo) meaning that in month 4 
one owes the unpaid 3 payments plus the regular monthly payment -- 4X 
their regular mortgage payment in one lump sum.


And, as Dore has been explicitly clear, "It is stunning to watch 
progressive media fall down on this". Very few news and/or commentary 
outlets are covering what a bad bill this is for the 99% and how things 
look very bad for a lot of Americans in the short-term future. One 
notable example: Democracy Now! earned a reputation for championing 
progressive politics during the run-up to the 2003 US/UK-led invasion of 
Iraq. DN has squandered all of that good will in recent years as Amy 
Goodman uncritically repeated Russiagate lies, echoed talk of the 
alleged gas attack in Douma that now 4 OPCW scientists say did not 
happen, and DN lost critical voices like former DN 

Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-31 Thread Tristan Sloughter via Marxism
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Thanks for making your last paragraph a breakdown of how terrible Jimmy Dore is 
so that no one else has to chime in to point out he's an awful person in 
general and certainly an awful "leftist".

Tristan

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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-30 Thread J.B. Nicholson via Marxism

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Dayne Goodwin via Marxism wrote:

AOC blasts 'shameful' $2 trillion coronavirus stimulus bill for bailing out
corporations


She raised some correct points in her rant. But don't let her empty theatrics 
("blast") fool you. She didn't shame anyone but herself. She voted for that bill.


Instead of mobilizing 'the squad' and sympathetic Republicans to work against the 
bill including stalling it while the public is made aware of its many shortcomings, 
the so-called progressives gave grandstanding speeches like AOC's aforementioned 
speech. Instead of voting against the bill and being in a position to say she was 
looking out for her constituents' interests (even if the bill passed it wouldn't have 
been because of her), she now joins Tulsi Gabbard, Ayanna Pressley, Ro Khanna, 
Elizabeth Warren, Ilhan Omar, "and anyone else who wants to call themselves a 
progressive" (as Jimmy Dore said) in voting for this massive big business bailout 
bill that is the largest wealth transfer. That one-time $1,200 check some Americans 
will get won't purchase what Americans need and deserve.


Jimmy Dore has been making YouTube videos on this recently 
(https://www.youtube.com/user/TYTComedy/videos is his channel) including pointing out 
how shameful it is to think that AOC's arm-waving speech is in any way comparable to 
Congressional votes (https://www.youtube.com/watch?v=EfOPSq705To), how California's 
3-month mortgage payment moratorium is going to be followed by allowing banks to 
demand all of those unpaid payments on month 4 
(https://www.youtube.com/watch?v=yQmn9o6NZVo) meaning that in month 4 one owes the 
unpaid 3 payments plus the regular monthly payment -- 4X their regular mortgage 
payment in one lump sum.


And, as Dore has been explicitly clear, "It is stunning to watch progressive media 
fall down on this". Very few news and/or commentary outlets are covering what a bad 
bill this is for the 99% and how things look very bad for a lot of Americans in the 
short-term future. One notable example: Democracy Now! earned a reputation for 
championing progressive politics during the run-up to the 2003 US/UK-led invasion of 
Iraq. DN has squandered all of that good will in recent years as Amy Goodman 
uncritically repeated Russiagate lies, echoed talk of the alleged gas attack in Douma 
that now 4 OPCW scientists say did not happen, and DN lost critical voices like 
former DN reporter Aaron Maté (who has tweeted about why he left DN and talked on 
Jimmy Dore's show about why he left DN).


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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-30 Thread Dayne Goodwin via Marxism
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AOC blasts 'shameful' $2 trillion coronavirus stimulus bill for bailing out
corporations
https://www.independent.co.uk/news/world/americas/us-politics/coronavirus-stimulus-bill-aoc-ocasio-cortez-corporate-bailout-airlines-cruise-industry-a9430771.html

As Congress Pushes a $2 Trillion Stimulus Package, the “How Will You Pay
For It?” Question Is Tossed in the Trash
https://theintercept.com/2020/03/27/coronavirus-stimulus-package-spending/



On Sat, Mar 28, 2020 at 8:16 PM Dayne Goodwin 
wrote:

> “Total System Failure”: Congress Pushes $2 Trillion Pandemic Bill. Will
> Dems Allow “Corporate Coup”?
> https://www.democracynow.org/2020/3/27/coronavirus_relief_bill_matt_stoller
>
> The Rich Eat First - A guide to the stimulus package from DSA's COVID-19
> Response Team
> https://www.dsausa.org/news/dsa-covid-19-bulletin-5/
>
> The stimulus bill includes a tax break for the 1%
>
> https://www.cnn.com/2020/03/28/opinions/stimulus-bill-tax-break-for-1-mccaffery/index.html
>
>
> On Fri, Mar 27, 2020 at 1:47 PM Ralph Johansen via Marxism <
> marxism@lists.csbs.utah.edu> wrote:
>
>> The Senate’s Coronavirus Relief Package Must be Stopped!
>> By Mike Whitney
>> Global Research, March 27, 2020
>> Region: USA Theme: Global Economy, Law and Justice, Science and Medicine
>>
>   . . .
>
> https://www.globalresearch.ca/senate-coronavirus-relief-package-must-stopped/5707727
>
>
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Re: [Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-28 Thread Dayne Goodwin via Marxism
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“Total System Failure”: Congress Pushes $2 Trillion Pandemic Bill. Will
Dems Allow “Corporate Coup”?
https://www.democracynow.org/2020/3/27/coronavirus_relief_bill_matt_stoller

The Rich Eat First - A guide to the stimulus package from DSA's COVID-19
Response Team
https://www.dsausa.org/news/dsa-covid-19-bulletin-5/

The stimulus bill includes a tax break for the 1%
https://www.cnn.com/2020/03/28/opinions/stimulus-bill-tax-break-for-1-mccaffery/index.html


On Fri, Mar 27, 2020 at 1:47 PM Ralph Johansen via Marxism <
marxism@lists.csbs.utah.edu> wrote:

> The Senate’s Coronavirus Relief Package Must be Stopped!
> By Mike Whitney
> Global Research, March 27, 2020
> Region: USA Theme: Global Economy, Law and Justice, Science and Medicine
>
  . . .
https://www.globalresearch.ca/senate-coronavirus-relief-package-must-stopped/5707727
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[Marxism] Relief Package is neither stimulus nor workers' lifeline, it’s again massive bailout to tottering corporations By Mike Whitney

2020-03-27 Thread Ralph Johansen via Marxism

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The Senate’s Coronavirus Relief Package Must be Stopped!
By Mike Whitney
Global Research, March 27, 2020
Region: USA Theme: Global Economy, Law and Justice, Science and Medicine

The Senate’s $2 Trillion Coronavirus Relief Package is not fiscal 
stimulus and it’s not a lifeline for the tens of millions of working 
people who have suddenly lost their jobs. It’s a fundamental 
restructuring of the US economy designed to strengthen the grip of the 
corrupt corporate-banking oligarchy while creating a permanent 
underclass that will be forced to work for slave wages. This isn’t 
stimulus, it’s shock therapy.


Who can survive on $1,200 for one, two or three months time? And what 
happens to the millions of people who paid no taxes last year? Are they 
supposed to scrape by on nothing? Congress knows that most households 
live paycheck to paycheck. With no savings how will they pay the rent, 
the electric bill, the phone and the cable? Congress is quibbling over 
an extra $600 per month unemployment for those who are lucky enough to 
get it, when most people are just trying to figure out how they’re going 
to survive, how they’re going to pay the mortgage, when they’ll be able 
to go back to work, and whether their job will still be there when this 
nightmare is finally over?


Did you know that “if you don’t already have direct-deposit information 
on file with the IRS from previous tax returns, you won’t get the 
emergency funds for up to 4 months”? That means millions of people will 
have zero income for 4 months! What will become of them? Where will they 
go? Who will provide them with shelter and food? Shouldn’t congress be 
asking these questions?


And what happens to the 50% of the American people who had less than 
$400 saved before the crisis hit? What happens to them when they fall 
between the cracks and lose their apartments, lose their jobs, and lose 
their ability to maintain their tenuous standard of living? These people 
will never regain their financial footing. Never. It’s a death sentence. 
We’re going to see an explosion of homelessness, drug addiction, 
depression, alcoholism, suicide and crime unlike anything this country 
has ever seen before. Are the imbeciles in congress so blind that they 
can’t see that they’re condemning a large part of the population to 
permanent, inescapable, grinding poverty and desperation? Can’t they see 
that?


Do you understand why this bill is being rushed through congress?

It has a lot to do with the falling stock market but more precisely with 
the hundreds of corporations that have been hawking bonds to gullible 
investors who thought they were buying the debt of responsible, 
well-managed companies that used the money to improve their 
product-line, train workers, or build new factories. But instead, greedy 
CEOs have been using the money to buy shares in their own companies to 
boost executive compensation and reward shareholders. It’s a 
multi-trillion dollar scam that blew up in their faces causing a 
complete freeze-over in the corporate bond market. That’s what’s really 
going on, there’s a massive credit crunch that has a stranglehold on the 
bond market and there are only two ways to fix the problem:


Let the failing corporations default and pick up the pieces after the 
dust settles or… Launch a major $4.5 trillion bailout for busted 
corporations that drove their companies off a cliff.


Those are the two choices. Naturally Treasury Secretary Mnuchin chose 
the latter which suggests that the real motive for giving working people 
the $1,200 checks was simply to divert attention from the massive 
trillion dollar bailout to teetering corporations. That’s the real 
objective of the so-called fiscal stimulus bill. It’s another giant 
welfare check for the plutocrats.


The centerpiece of the new legislation is a provision for $425 billion 
giveaway to big business. The New York Times explains what is going on 
in a recent article. Here’s an excerpt:


“Republican senators have suggested creating a fund of $425 billion at 
the Treasury Department that the Fed could use to back emergency lending 
facilities — which would enable such programs to grow far beyond that 
scale.


Because the Fed cannot take on substantial credit risk itself, the 
Treasury Department backs its emergency lending, using money from a fund 
that contains just $95 billion. Treasury Secretary Steven Mnuchin on 
Sunday suggested that the new money in the Republican bill could be 
leveraged by the Fed to back some $4 trillion in financing.


“We do have limited amounts of money we’re using before Congress passes 
this bill, so we’re not waiting on Congress,”