NY Gov. Cuomo rebukes Trump on ‘bailouts’ for Democratic states

spike

New York Gov. Andrew Cuomo on Tuesday rebuked President Donald Trump’s complaint that it’s unfair for Republicans to provide “bailouts” to Democrat-led states suffering from the coronavirus pandemic.

Cuomo, a Democrat whose state is the U.S. epicenter for the outbreak, sharply criticized the partisan rhetoric from Trump and Senate Majority Leader Mitch McConnell, R-Ky., who both say they are opposed to sending federal emergency aid to states.

“It’s not red or blue, it’s red, white and blue. This coronavirus doesn’t pick Democrats or Republicans. It doesn’t kill Democrats or Republicans, it kills Americans,” Cuomo said at his daily press briefing.

Read More

The new litmus test we need after the bailouts

spike

President Donald Trump speaks during a Coronavirus Task Force news conference in the White House on Thursday, March 19, 2020. Trump said he’d support the U.S. taking an equity stake in companies that receive coronavirus-related aid from taxpayers and prohibiting firms from increasing executive bonuses and stock buybacks.

Yuri Gripas | Abaca Press | Bloomberg via Getty Images

We all remember the story of the three little pigs. The first little pig invests minimal time or effort and builds a house of straw, which the big bad wolf comes along and blows down. Excessive buybacks can be like building a

Read More

Helicopters? Bailouts? Central banks move to stem coronavirus crisis

spike

LONDON/WASHINGTON (Reuters) – Central banks are pulling out all the stops to try to shield their economies from the new coronavirus pandemic, raising questions about whether they risk crossing a line by bailing out governments that are massively raising their spending.

FILE PHOTO: The U.S. Federal Reserve Board building on Constitution Avenue, Washington, U.S., March 19, 2019. REUTERS/Leah Millis

Below is a summary of what leading central banks are doing and the possible dangers of such huge emergency measures to support their economies through the new coronavirus crisis.

THE UNITED STATES

The U.S. Federal Reserve, having cut interest rates back

Read More