Here are the most infuriating details and corporate giveaways in the COVID-19 stimulus bill
Even amid the urgency of the coronavirus pandemic, the massive $2 trillion stimulus plan voted on by the House this afternoon saw its share of partisan wrangling (because . . . Washington). But more infuriating was the long list of special interests lobbying for big chunks of money or other benefits, despite the fact that many of these interests clearly don’t have the most compelling need.
Though many core elements within the 900-page bill have been praised (it includes $250 billion set aside for direct payments to individuals and families, $350 billion in small business loans, $250 billion in unemployment insurance benefits, and $500 billion in loans for distressed companies), others have been roundly criticized. So, to balance out your general anxiety right now with some righteous rage, I present the lowlights of the bill:
In addition, the Fed tapped asset-management giant BlackRock to direct three of its bond-buying programs, “which under the arrangement could buy some of its own funds on behalf of the central bank,” notes Bloomberg. Conflict of interest much?
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