User: newstrust Topic: Business
Category: Finance :: Financial Regulation
1 new since Apr 03 2020 21:29 IST RSS 2.0
 
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Massive coronavirus bailout will inevitably result in scandal – and Trump’s hatred of oversight will aggravate it 3.4.2020 Raw Story
There’s going to be scandal involved in this bailout. It is unquestionable. There is going to be fraud– that is going to be committed in this bailout. There are going to be individuals who are unjustly rewarded, and others who should have been saved and rescued, who will be left on the side  to rot.—Neil […]
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Government Wasted Opportunity To Add 10,000 Ventilators To Its Stockpile 3.4.2020 Crooks Liars
by Patricia Callahan, Sebastian Rotella and Tim Golden ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox. Five years ago, the U.S. Department of Health and Human Services tried to plug a crucial hole in its preparations for a global pandemic, signing a $13.8 million contract with a Pennsylvania manufacturer to create a low-cost, portable, easy-to-use ventilator that could be stockpiled for emergencies. This past September, with the design of the new Trilogy Evo Universal finally cleared by the Food and Drug Administration, HHS ordered 10,000 of the ventilators for the Strategic National Stockpile at a cost of $3,280 each. But as the pandemic continues to spread across the globe, there is still not a single Trilogy Evo Universal in the stockpile. Instead last summer, soon after the FDA’s approval, the Pennsylvania company that designed the device — a subsidiary of the Dutch appliance and technology giant ...
House Intelligence chairman calls for 9/11-style commission to investigate Trump’s response to the coronavirus pandemic 3.4.2020 Raw Story
Although President Donald Trump is finally acknowledging how deadly the coronavirus is, he continues to draw a great deal of criticism from Democrats for all the weeks he spend downplaying its severity and insisting that it didn’t pose a major threat to the United States. And House Intelligence Committee Chairman Adam Schiff, according to CNN […]
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Trump backs Gilead’s exclusive patent on treatment as US reels from COVID-19 deaths 2.4.2020 Raw Story
As the United States leads the world in coronavirus cases, the nation’s healthcare system is already stretched to capacity and protective gear in short supply. President Trump and his health advisors say more than 100,000 Americans could die from the coronavirus in the next two weeks. Meanwhile, millions of people have lost their jobs, and […]
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Inspector general builds a huge team of watchdogs over stimulus — even as Trump threatens to obstruct them 2.4.2020 Raw Story
On Wednesday, Politico correspondent Kyle Cheney reported that Glenn Fine, the Pentagon inspector general overseeing the $2 trillion coronavirus stimulus spending package, has appointed a dozen new inspectors general to serve on his oversight panel. The new hires, which include the inspectors general for the Departments of Transportation, Housing and Urban Development, Agriculture, and Veterans […]
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America’s global military presence skyrockets under Trump: US commandos now deployed to 141 nations 1.4.2020 Raw Story
Last October, a group of eight Apache attack and CH-47 Chinook helicopters carrying U.S. commandos roared out of an airfield in Iraq. They raced through Turkish airspace and across the Syrian border, coming in low as they approached a village just north of Idlib Province where Islamic State leader Abu Bakr al-Baghdadi, his bodyguards, and some of […]
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Taxpayers Paid Millions to Design a Low-Cost Ventilator for a Pandemic. Instead, the Company Is Selling Versions of It Overseas. 1.4.2020 Mother Jones
This story was published in partnership with ProPublica, a nonprofit newsroom that investigates abuses of power. Sign up for The Big Story newsletter to receive stories like this one in your inbox. Five years ago, the U.S. Department of Health and Human Services tried to plug a crucial hole in its preparations for a global […]
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Stephanie Ruhle Steamed Over How Hard It Is To Access Stimulus Help 31.3.2020 Crooks Liars
Stephanie Ruhle was on Morning Joe to talk with Willie Geist about the crisis ordinary people and small businesses are going through. "We were just talking about tomorrow being April 1st. The day, of course, the rent is due. This is the first, the 1st of the month since this crisis escalated. What are the implications of that for small businesses, homeowners and all the people worried now about making those payments?" Willie Geist said. "They're massive across the board. While people at home, individuals and small businesses might watch our programs and see headlines with members of Congress and the president touting how great the CARES Act is, $2 trillion, and it is, but of those $2 trillion, no checks have been cut," Ruhle said. "Talk to any, anyone in New York State, right? People trying to file for unemployment right now, it's a two-step process. First, you've got to go online. These websites are crashing over and over. Then you've got to make a phone call and the lines are busy. Whether talking ...
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Taxpayers paid millions for a low-cost ventilator for pandemics — which are now being sold overseas 31.3.2020 Raw Story
Five years ago, the U.S. Department of Health and Human Services tried to plug a crucial hole in its preparations for a global pandemic, signing a $13.8 million contract with a Pennsylvania manufacturer to create a low-cost, portable, easy-to-use ventilator that could be stockpiled for emergencies. This past September, with the design of the new […]
Trump takes another step towards authoritarianism as America grapples with the coronavirus pandemic 31.3.2020 Raw Story
No sooner did Donald Trump sign the $2-trillion coronavirus aid bill last Friday than he immediately made clear that he intends to break the new law to insist on his own powers, not those dictated by Congress, in seeing how money gets spent. One of the main blocking points to the bill as originally outlined […]
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Column: Trump blocks coronavirus bailout oversight even before it can start 30.3.2020 LA Times: Business

Trump says he won't cooperate with bailout oversight, so what is he hiding?

Trump Announces Plan to Refuse Congressional Oversight of Corporate Bailout 29.3.2020 Truthout.com
The president intends to give Treasury Secretary Steven Mnuchin free reign over the $500 billion bailout ...
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‘Unacceptable’: Dems fume after Trump announces plan to refuse congressional oversight of corporate bailout funds 28.3.2020 Raw Story
“This is a frightening amount of public money to have given a corrupt administration with zero accountability.” rogressive lawmakers on Friday evening denounced President Donald Trump’s intention to disregard provisions in the just-passed coronavirus relief bill that would provide crucial oversight of $500 billion in taxpayer money already poised to be a “Wall Street slush […]
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Trump undercuts Democrats’ Congressional oversight safeguard on bailout stimulus package 28.3.2020 The Moderate Voice

When what would become the coronavirus $2 trillion economic stabilization package was hammered out in Congress, it contained a key provision Democrats were adamant had to be included: Congressional oversight on the stimulus and an Inspector General who would report to Congress on the kinds of loans and who was getting them. Donald Trump has […]

The post Trump undercuts Democrats’ Congressional oversight safeguard on bailout stimulus package appeared first on The Moderate Voice.

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Trump says he has the power to block provision of stimulus that informs Congress where the corporate bailouts go 28.3.2020 Raw Story
The passage of the $2 trillion stimulus bill to give Americans relief from coronavirus was good news for millions of people. But President Donald Trump is already laying the groundwork to ignore provisions of it that impose congressional oversight. In a signing statement, Trump said that he intends to ignore the provision of the bill […]
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Despite widespread shortages, Trump hasn't come up with a plan to get medical supplies where needed 28.3.2020 L.A. Times - World News

As medical providers plead for help, the White House won't detail a plan to route masks, ventilators to the front lines of the coronavirus fight.

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NY Times Lets Schumer Dictate Stimulus Coverage; GOP 'Seized on' Spoiler Pelosi 27.3.2020 NewsBusters
New York Times congressional reporters Carl Hulse and Emily Cochrane gave the “tick-tock” on the Senate passage of a coronavirus stimulus package -- at least as told by Democratic Sen. Chuck Schumer: “Passing the Stimulus: Nonstarter at A.M. To 96-0 at Midnight -- How the polarized Senate found a way to negotiate a plan to help an ailing nation.” Schumer guided the story, with Hulse as usual happy to be pulled along by Democratic talking points. There was no mention of House Speaker Nancy Pelosi sabotaging the crisis package by attempting to shoehorn in ...
How Trump’s chaotic incompetence — and the ‘deconstruction’ of the ‘deep state’ — got us here 27.3.2020 Raw Story
In February of 2017, in the very early days of the Trump administration, Steve Bannon, then the White House strategic adviser, appeared at the annual gathering of the Conservative Political Action Committee and described the new administration’s three “lines of thought.” The first had to do with sovereignty or “America First.” The second was what […]
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Trump and his GOP enablers say the quiet part out loud: Americans must die of the coronavirus in order to save capitalism 27.3.2020 Raw Story
Donald Trump has given the Democrats a gift — if they are brave enough to use it. Last Sunday, Donald Trump declared on Twitter: “WE CANNOT LET THE CURE BE WORSE THAN THE PROBLEM ITSELF. AT THE END OF THE 15 DAY PERIOD, WE WILL MAKE A DECISION AS TO WHICH WAY WE WANT TO […]
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Stimulus plan includes long-sought boons for special interests 27.3.2020 L.A. Times - World News

From changes to the tax code for restaurants and retailers to lower capital requirements for small banks, the $2-trillion rescue package includes long-sought boons for special interests.

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