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 Common Dreams Coronavirus News Worker Safety

Meat industry sacrificed workers during pandemic to keep exports moving

‘It Was a Fake Meat Shortage’ “Our country sacrificed the lives of meat workers to protect the business of meat companies.” by Eoin Higgins, staff writer Wednesday, June 17 As workers in meat processing plants around…

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Posted in Bailout 2020 News Worker Safety Workers

‘How the Trump White House sees you’: top economic adviser under fire for calling workers ‘human capital stock’

“They’ve always been indifferent to human life. And in the face of mass death, the masks are coming off.” by Jake Johnson, staff writer Tuesday, May 26 In a remark critics characterized as further evidence that…

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Posted in Columns Democracy Hightower OtherWords

How pro-Trump millionaires robbed small businesses of coronavirus aid

Thanks to a specially carved loophole, one multi-millionaire claimed 339 times more than the average small business received. by Jim Hightower May 20, 2020 Monty Bennett was just another faceless right-wing millionaire on the long list…

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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 Banks News Pro Publica

Whistleblower: Wall Street has engaged in widespread manipulation of mortgage funds

Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of another mortgage collapse. by Heather Vogell Friday,…

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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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Posted in Analysis Business Coronavirus Law The Conversation Worker Safety

Why offering businesses immunity from coronavirus liability is a bad idea

  by Timothy D. Lytton, Georgia State University Governors around the country are attempting to restart the economy by easing restrictions put in place to prevent the spread of COVID-19. The prospect of returning to “normal”…

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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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Posted in Banks Coronavirus Debt News Poverty Pro Publica Safety Net Wages

Coronavirus put her out of work, then debt collectors Froze her savings account

Kim Boatswain’s tax refund could have helped her get through the coronavirus slowdown. But debt collectors seized it. There are few options for Texans like Boatswain whose money was taken just before the state temporarily banned…

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Posted in Bailout 2020 Coronavirus News Safety Net

Ocasio-Cortez Rejects Settling for Crumbs in Next Covid-19 Stimulus

‘Incrementalism Is Not Helpful in This Moment’ “I’m not here for a $5 bill. And I will not insult my community with one.” by Jake Johnson, staff writer Rep. Alexandria Ocasio-Cortez, the only Democrat in Congress…

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Posted in Bailout 2020 Common Dreams Coronavirus Health Insurance Medicare News Private Insurance

UnitedHealth group posts surge in profits as millions lose insurance and thousands die

‘Thriving During a Pandemic’: “The earnings were so good, the company said it still expects to make as much in total profits this year as they predicted in December… when no one could predict the massive…

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Posted in Coronavirus

A major medical staffing company just slashed benefits for doctors and nurses fighting coronavirus

Alteon Health, a staffing company backed by private-equity firm Frazier Healthcare Partners, will cut salaries, time off and retirement benefits for providers, citing lost revenue. Several hospital operators announced similar cuts. by Isaac Arnsdorf March 31,…

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Posted in Pro Publica Public Health Public Policy

Walmart was almost charged criminally over opioids. Trump appointees killed the indictment.

Even as company pharmacists protested, Walmart kept filling suspicious prescriptions, stoking the country’s opioid epidemic. A Republican U.S. Attorney in Texas thought the evidence was damning. Trump’s political appointees? Not so much. by Jesse Eisinger and…

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