Posted in Business Common Dreams Income Equality News Wealth

Bezos grew record-setting $13 billion richer on Monday as poor and working class in US face financial cliff

“In ONE DAY Jeff Bezos made well over 4,000 times what the average American earns in their ENTIRE LIFETIME.” by Julia Conley, staff writer Tuesday, July 21 Days before the expiration of federal unemployment benefits is…

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Posted in Analysis Bailout 2020 Coronavirus Investigations Pro Publica While we were looking elsewhere

Different names, same address: How big businesses got government loans meant for small businesses

ProPublica found at least 15 large companies that received over half a billion dollars in PPP loans using the same technique: Getting multiple loans sent to smaller entities they own. by Paul Kiel and Jack Gillum…

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Posted in Bailout 2020 Common Dreams News

Small business owners to McConnell: Stop using our plight to push for Covid-19 corporate immunity

“With this perverse cost-shift, corporate immunity could result in only the most irresponsible corporations surviving the pandemic.” by Jake Johnson, staff writer Wednesday, May 20 A coalition of more than 30,000 small business owners across the…

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Posted in Analysis Bailout 2020 Coronavirus Pro Publica

The bailout Is working — for the rich

The economy is in free fall but Wall Street is thriving, and stocks of big private equity firms are soaring dramatically higher. That tells you who investors think is the real beneficiary of the federal government’s…

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Through the Primary Market Corporate Credit Facility, the Fed will provide $500 billion to companies by buying bonds, but the companies will not be required to retain employees or limit executive pay. (Photo: Public Domain)
Posted in Bailout 2020 Common Dreams News

Federal Reserve to offer corporations $500 billion no-strings-attached bailout loophole

‘Lining Up at the Trough’ “Big corporations have shown time and again that they will put their shareholders and executives ahead of their workers if given the choice.” by Julia Conley, staff writer A Federal Reserve…

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Posted in Bailout 2020 Common Dreams Coronavirus

Warren and Ocasio-Cortez call for halt to corporate mergers during pandemic

“We cannot allow mega-corporations and private equity vultures to exploit the coronavirus crisis and entrench their already immense economic power.” by Julia Conley, staff writer Tuesday, April 28 Intent on protecting working people and small businesses…

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