User: newstrust Topic: US Economy
Category: Financial Markets
Last updated: Jun 02 2020 23:20 IST RSS 2.0
 
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This Treasury Official Is Running the Bailout. It’s Been Great for His Family. 2.6.2020 Truthout.com
Justin Muzinich’s ongoing ties to the family firm present a thicket of potential conflicts of ...
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This behind-the-scenes Trump Treasury official is running the bailout — and it’s been great for his family 2.6.2020 Raw Story
Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin have become the public faces of the $3 trillion federal coronavirus bailout. Behind the scenes, however, the Treasury’s responsibilities have fallen largely to the 42-year-old deputy secretary, Justin Muzinich. A major beneficiary of that bailout so far: Muzinich & Co., the asset manager founded by […]
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Op-Ed: Coronavirus brought economic catastrophe. Here are 10 experts on how to recover 31.5.2020 LA Times: Opinion

Ten economists suggest remedies, ranging from aiding state and local governments, paying employers to keep workers and offering universal coronavirus testing to restore public confidence.

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We Must Respond to the COVID Crash Like We Did to the Great Depression — Boldly 28.5.2020 Truthout.com
In the face of devastation today, despite trillions in federal stimulus, real political action has been ...
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The numbers are in — and the rich are making out like bandits during this pandemic 24.5.2020 Raw Story
Tens of millions of Americans are cashless, many desperate to feed their children. Meanwhile the richest Americans merrily float on a rapidly rising tide of money thanks mainly to Trump & Co. My analysis of Federal Reserve data shows a record flow of greenbacks let the corporate rich pour trillions of dollars into their accounts […]
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The rich are making out like drug dealers in this pandemic — and Trump’s GOP is the main culprit 21.5.2020 Raw Story
While tens of millions of Americans are out of work, many desperate for cash to feed their children, the richest Americans merrily float on a rapidly rising tide of cash thanks in good part to Trump & Co. My analysis of Federal Reserve data shows a record flow of greenbacks let the corporate rich pour […]
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Whistleblower Says Systemic Mortgage Fraud Has Returned to Wall Street 16.5.2020 Truthout.com
Whistleblower Says Systemic Mortgage Fraud Has Returned to Wall Street
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Whistleblower: Wall Street has engaged in widespread manipulation of mortgage funds 16.5.2020 Raw Story
Among the toxic contributors to the financial crisis of 2008, few caused as much havoc as mortgages with dodgy numbers and inflated values. Huge quantities of them were assembled into securities that crashed and burned, damaging homeowners and investors alike. Afterward, reforms were promised. Never again, regulators vowed, would real estate financiers be able to […]
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Big banks undercut the small-business COVID-19 loan program after Trump waved away layers of oversight 15.5.2020 Raw Story
Practically everyone’s looking for a bailout in the wake of the COVID-19 pandemic and the financial havoc that was the result of largely shutting down the economy. But here’s the awful truth: Thousands of small businesses never had a chance at the Paycheck Protection Program, or PPP, money that was supposed to be their life […]
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Trump Admin Says New Bailout Will Help 35 Million Americans. It Probably Won’t. 14.5.2020 Truthout.com
Experts from across the political spectrum fear the program won’t reach enough businesses or save enough ...
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The Bailout is Working—for the Rich 14.5.2020 Mother Jones
This story was published originally by ProPublica, a nonprofit newsroom that investigates abuses of power. Sign up for ProPublica’s Big Story newsletter to receive stories like this one in your inbox as soon as they are published. Ten weeks into the worst crisis in 90 years, the government’s effort to save the economy has been […]
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The economy is in free fall but Wall Street is thriving: The bailout is working — for the rich 10.5.2020 Raw Story
Ten weeks into the worst crisis in 90 years, the government’s effort to save the economy has been both a spectacular success and a catastrophic failure. The clearest illustration of that came on Friday, when the government reported that 20.5 million people lost their jobs in April. It marked a period of unfathomable pain across […]
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The industry behind prisons profits, even during the coronavirus outbreak 9.5.2020 L.A. Times - World News

During the coronavirus crisis, inmates continue to work in American prisons, and businesses connected to the system reap profits.

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Palast & David Cay Johnston: How Trump Stole 2020 — A Warning! 9.5.2020 GregPalast.com

They don’t steal votes to steal elections. They steal votes to steal the money. If you can steal an election, you’ve stolen the keys to the treasury — our treasury. In this conversation, award-winning investigative reporters and authors Greg Palast and David Cay Johnston follow the (stolen) money, and expose the billionaires and ballots bandits who are systematically stripping the United States of its assets, just as a vulture fund would with a corporate entity caught in its talons.

The post Palast & David Cay Johnston: How Trump Stole 2020 — A Warning! appeared first on Greg Palast.

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The Fed Just Changed Its Own Rules to Bail Out the Fossil Fuel Industry 5.5.2020 Truthout.com
The Federal Reserve can now give emergency loans to a sector that’s been buried in debt since long before the ...
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Main Street coronavirus loans will be tricky territory for Federal Reserve 5.5.2020 Chicago Tribune: Business
The Main Street Lending Program will likely draw the Fed into more public scrutiny than it has faced since the 2008 financial crisis.
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Coronavirus and downturn slam America's oil patch 4.5.2020 L.A. Times - World News

When Texas' energy-dependent economy stalled, mass layoffs hit skilled middle-class workers.

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Economic expert warns that any ‘return to a state of normal’ is ‘highly unlikely’ after this pandemic 1.5.2020 Raw Story
The coronavirus pandemic, enabled and accelerated by Donald Trump, has killed more than 60,000 Americans. At least a million Americans are known to be infected. The numbers of dead and infected are likely far higher than officially reported. Beyond the tens of thousands already dead or who will die in the months ahead — and not […]
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COVID-19 Was a Trigger, But Capitalism Caused the Economic Crash 17.4.2020 Truthout.com
COVID-19 Was a Trigger, But Capitalism Caused the Economic Crash
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How new global fault lines will usher in the most profound worldwide changes since World War II 16.4.2020 Raw Story
The coronavirus pandemic has upended the global economic system, and just as importantly, cast out 40 years of neoliberal orthodoxy that dominated the industrialized world. Forget about the “new world order.” Offshoring and global supply chains are out; regional and local production is in. Market fundamentalism is passé; regulation is the norm. Public health is […]
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