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After Blowing $4.5 Trillion on Share Buybacks, Airlines, Boeing, Many Other Culprits Want Taxpayer & Fed Bailouts of their Shareholders
invite response
2020 Mar 19, 10:51am 864 views 6 comments
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2
Bd6r
2020 Mar 19, 11:30am
Bd6r
2020 Mar 19, 11:30am
zzyzzx says
Loans, unless they go broke, at which point they become gibs...but they should get NOTHING, absolutely NOTHING at all
Are these loans or gibs?
Loans, unless they go broke, at which point they become gibs...but they should get NOTHING, absolutely NOTHING at all
3
mell
2020 Mar 19, 11:33am
There's a difference between a pandemic/terror attack induced scenario and a recession as we has in 2008 because people were greedy. I've come around on some of those packages. But the point is taken.
4
marcus
2020 Mar 19, 12:32pm
marcus
2020 Mar 19, 12:32pm
:
I would be more okay with this type of thing if there was a plan for getting it back - via corporate taxes, making it effectively sort of like a govt loan for getting through this.
It needs to happen that way for the credibility of our govt and the dollar.
I would be more okay with this type of thing if there was a plan for getting it back - via corporate taxes, making it effectively sort of like a govt loan for getting through this.
It needs to happen that way for the credibility of our govt and the dollar.
5
Bd6r
2020 May 1, 10:40am
Bd6r
2020 May 1, 10:40am
marcus says
They will game the system and screw over taxpayers if any money is given to them. Remember Bush/Obama bailouts, when banksters paid themselves yuuge bonuses after being bailed out by taxpayers for incompetence.
I would be more okay with this type of thing if there was a plan for getting it back - via corporate taxes, making it effectively sort of like a govt loan for getting through this.
It needs to happen that way for the credibility of our govt and the dollar.
They will game the system and screw over taxpayers if any money is given to them. Remember Bush/Obama bailouts, when banksters paid themselves yuuge bonuses after being bailed out by taxpayers for incompetence.
6
RWSGFY
2020 Jun 20, 9:39am
RWSGFY
2020 Jun 20, 9:39am
Yawn, airlines go in and out of bancruptcy all the time even when there's no covid-like event. Why anybody ever invests into that shit is a mystery to me.
It seems that Orange man is following Obama and Bush in shafting taxpayers. If this goes through, I will stay at home in 2020 elections.
The Trump administration is putting together a rumored $850-billion stimulus package that will include taxpayer funded bailouts of Corporate America, according to leaks cited widely by the media. Trump in the press conference today singled out $50 billion in bailout funds for US airlines alone. A bailout of this type is designed to bail out shareholders and unsecured creditors. That’s all it is. The alternative would be a US chapter 11 bankruptcy procedure which would allow the company to operate, while it is being handed to the creditors, with shareholders getting wiped out.
So get this: The big four US airlines – Delta, United, American, and Southwest – whose stocks are now getting crushed because they may run out of cash in a few months, would be the primary recipients of that $50 billion bailout, well, after they wasted, blew, and incinerated willfully and recklessly together $43.7 billion in cash on share buybacks since 2012 for the sole purpose of enriching the very shareholders that will now be bailed out by the taxpayer...
Boeing is also on the bailout docket. Today it called for “at least” a $60-billion bailout of the aerospace industry, where it is the biggest player. It alone wasted, blew, and incinerated $43 billion in cash since 2012 to manipulate up its own shares until its liquidity crisis forced it to stop the practice last year, and its shares have since collapsed...