Survivalism & Self Sufficiency Topics > COVID-19 Coronavirus Pandemic

COVID-19 Economic Relief Package

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IKN:
As far as I know at this point, the Federal economic relief package is still stagnated in Congress, but I see a rebound in the markets in anticipation of its passing.
One of the big concerns has been how Big Corps would use or mis-use any of this money they might receive. One big concern was that they'd use it to buy up their own stock during the depressed market prices instead of using it to continue employment and benefits for emplyees.

We already know these corporate boards get a lot of inside knowledge from the politicians in their pockets long before it goes public.
This got me wondering if they might be buying up their own stock BEFORE the announcement and handing out of the money and just use the money from the stimulus package to replace what they'd used to already buy the stock giving them plausible deniability that they didn't mis-use the funds give to them from the government.

Any thoughts on this or anyone know of a way to figure out they did this ?

Chemsoldier:
Looks like it passed late in the night.

We shall see what is in it as people comb through the text.  I suspect that the Dems managed to shoehorn some but not all of the protections you mentioned in.  I also suspect the Republicans managed to strike some, but not all, of the environmental regulations that the Dems wanted.

It was always going to be a trainwreck of a bill, but I am glad it was passed.  Boy, wouldn't it have been nice if both parties hadnt spent like drunken sailors when they were in charge?  Its like each party has an elaborate and expensive legislative agenda and an equally elaborate plan to pay for it.  Then the other party logjams the plan to pay for it and the majority party wont just shrug and say, "never mind, since we cant pay for it we just wont do it."

Jeremy Downing:
I'm not seeing how this get's through the house yet. When do they vote? They aren't in session and there is zero chance of it passing by unanimous consent.

IKN:
Like you said, will probably be a train wreck regardless.
I did see a YouTube video by Hannity on FOX news yesterday evening where they basically threatened to dig out any of the added "Special Interest" crap added and name names as to who put it in.
The wife saw a post of Facebook last night about the New Jersey Democrat who was spilling the beans. I gathered she's one that's up for re-election this fall and her constituents from her district were letting her know they weren't happy.
Don't know if they'd actually do it, but even the politicians know a lot of the people are either scared, pissed, or both.
Either way, it could make for an interesting election this fall.

Chemsoldier:
https://www.cnbc.com/2020/03/24/coronavirus-updates-congress-gets-closer-to-a-deal-on-massive-stimulus-bill.html

It looks like the house will start talking about it as soon as they receive it, so probably get the final text tonight.  Here is to hoping they can do a unanimous vote.  It sounds like there is enough in it it might just get the unanimous vote.  The various provisions preventing stock buy backs for a year, no bailouts for businesses owned by government officials and checks for nearly all americans seem like it would be fairly attractive to the House Dems.  Not sure they will want to take responsibility for the delay of a renegotiation at this point and the entailed stock market plunge for more wrangling.

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