Courtesy of BIG newsletter author and monopoly researcher, Matt Stoller, here is an ever expanding list of every industry and entity that has floated bailout demands in what Stoller dubs the “CoronavirusCoup” – which if allowed to continue will make America’s big business bigger and more entrenched than ever, and crush most of the country’s small business. Why? Because from Defense contractors, to billionaires like Elon Musk and Jeff Bezos, to meatpackers and the beer industry, everyone wants a piece, and thanks to their lobby connections and political bribes, they will get it.
Who won’t get it? The mom and pop store down the street which will have to quickly shut down for good in the coming weeks.
2. Speeding up of payments to defense contractors. Lifting of Other Transaction Authority caps for the Pentagon to shovel money to defense contractors without restrictions. Transdigm likes to use this one. https://t.co/FmbCX3yNoT
— Matt Stoller (@matthewstoller) March 21, 2020
4. “The hotel industry wants $150 billion. The restaurant industry wants $145 billion. The National Association of Manufacturers wants $1.4 trillion. The International Council of Shopping Centers wants a guarantee of up to $1 trillion.” https://t.co/aADuheKMOh
— Matt Stoller (@matthewstoller) March 21, 2020
6. Big meatpackers want expedited visas for seasonal workers. https://t.co/gJ91cQZnpY
— Matt Stoller (@matthewstoller) March 21, 2020
8. Importers are rushing to get rid of duties paid by those found guilty of dumping. https://t.co/LnkB6Ez4ER
— Matt Stoller (@matthewstoller) March 21, 2020
10. McConnell wants big business to rule. So he is refusing aid to normal people, and the Dems are negotiating with him to try to get unemployment assistance and social welfare. He knows Dems won’t pay attention to corporate bailouts if he takes the public hostage.
— Matt Stoller (@matthewstoller) March 21, 2020
12. We have to support industry in a moment of crisis. But the key here is the conditions, and what is likely to happen by allowing Mnuchin to set the terms of all aid is a consolidation of power in the hands of a few. No more small business. America will be unrecognizable.
— Matt Stoller (@matthewstoller) March 21, 2020
14. Take this blog post, repost it, forward it, whatever. We need to stop the opportunistic power grab. Bailouts can wait, we need aid to the people. Rent is coming due at the end of the month, but I can assure you Boeing will be fine for awhile. https://t.co/QicjuRdqYO
— Matt Stoller (@matthewstoller) March 21, 2020
Here is how Stoller summarizes the dynamic currently taking place in Congress, which is certainly not going to let this crisis go to waste, and jockeying for trillions and trillions in pork, all on the back of US taxpayers and the viability of the world’s reserve currency.
We have to support industry in a moment of crisis. But the key here is the conditions, and what is likely to happen by allowing Mnuchin to set the terms of all aid is a consolidation of power in the hands of a few. No more small business. America will be unrecognizable. – READ MORE
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