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Democrats block Senate CV Stimulus Package (2 Viewers)

As I understand it there’s no IG and allows a slush fund of a half trillion controlled by the President and no controls. I think that’s the why. 
The Dems were all in until Nancy and Chuck entered the picture.

In the meanwhile my 403b and your 401k tanks again today.  I should be broke by October.

 
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Well, isn't that just peachy.  Why are they playing these games at a time like this?

https://www.foxnews.com/politics/collins-blasts-democrats-for-blocking-coronavirus-stimulus-plan-says-theyre-playing-with-fire

I thought they were bipartisan until Nancy and Chucky enter the picture.

I suppose the DOW will take another dive today over this news.
Lol. Did you even read why they are blocking it?  According to the Democrats in the Senate they want more of the stimulus to be towards the working class and less towards corporations. If that is true I see this as a good thing. 

 
The Dems were all in until Nancy and Chuck entered the picture.

In the meanwhile my 403b and your 401k tanks again today.
Ok raised a very specific factual point - am I right or not? I may be wrong, asking for clarification. I’m trying to get information here.

The market could crater again, but it might just be a result of current presidential policies and failure of leadership.

Yes, it’s gut wrenching. 

 
Lol. Did you even read why they are blocking it?  According to the Democrats in the Senate they want more of the stimulus to be towards the working class and less towards corporations. If that is true I see this as a good thing. 
People create corporations and corporations  help our economy by providing jobs, goods, and services.  Tell me why they were bipartisan on this bill until Nancy stuck her nose into it?

 
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I thought they were bipartisan until Nancy and Chucky enter the picture.
You should read this again, it’s kind of true. Apparently what happened is last week McConnell refused direct negotiations with Pelosi & Schumer. In the meantime he failed to get majority support for his package. You’ll never guess what happened when he brought it to Dem leadership, they reported on content to their caucuses who had been awaiting guidance. A week wasted. 

I don’t want to get into standard jabbing here, just trying to explain what happened.

 
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SaintsInDome2006 said:
You should read this again, it’s kind of true. Apparently what happened is last week McConnell refuses direct negotiations with Pelosi & Schumer. In the meantime he failed to get majority support for his package. You’ll never guess what happened when he brought it to Dem leadership, they reported on content to their caucuses who had been awaiting guidance. A week wasted. 

I don’t want to get into standard jabbing here, just trying to explain what happened.
Ok, but at this time I'm not going to argue with anyone Dem vs Rep.  All I know is they need to agree on something and get it in play.  I hate politicians. 

 
msudaisy26 said:
Lol. Did you even read why they are blocking it?  According to the Democrats in the Senate they want more of the stimulus to be towards the working class and less towards corporations. If that is true I see this as a good thing. 
what is the breakdown in the current package?  Is the money for corporations a TARP like loan or are they i tax cuts.  It is hard to make a judgement without details, but it seems a large portion is targeted towards individuals.  

 
Exactly. So why don't you wait and see if they compromise and get something done fast instead of coming here and railing against one side without having all the facts. 
Not going there, only to say it shouldn't have come to this and all of us are in their cross hairs.  People are losing their future and these politicians aren't helping.

 
what is the breakdown in the current package?  Is the money for corporations a TARP like loan or are they i tax cuts.  It is hard to make a judgement without details, but it seems a large portion is targeted towards individuals.  
I don't know yet. I am just looking up the details and the first reasons stated was that this package was too much in favor of corporations. 

 
I don't know yet. I am just looking up the details and the first reasons stated was that this package was too much in favor of corporations. 
That is the canned response to every Republican proposal.  Bush 'tax cuts for the rich' were across the board tax cuts which disproportionately benefited lower and middle income people.  I will like to see numbers before I believe the rhetoric, not that it may not be true though.  

 
That is the canned response to every Republican proposal.  Bush 'tax cuts for the rich' were across the board tax cuts which disproportionately benefited lower and middle income people.  I will like to see numbers before I believe the rhetoric, not that it may not be true though.  
Maybe you didn't read my response carefully. Please look again. 

 
JohnnyU said:
In the meanwhile my 403b and your 401k tanks again today.  I should be broke by October.
Hang in there.  It will rebound.  Honestly, I think more supplies and ventilators, and savings lives will do far more to the markets than a stimulus package.  Until CV is under control I don't see WS having a ton of confidence to put their money back in.  Maybe check out the FFA Stock and 401k thread.  A lot of good, positive talk in there.  A lot from pros that manage a ton of money for others.  

 
JohnnyU said:
Well, isn't that just peachy.  Why are they playing these games at a time like this?

https://www.foxnews.com/politics/collins-blasts-democrats-for-blocking-coronavirus-stimulus-plan-says-theyre-playing-with-fire

I thought they were bipartisan until Nancy and Chucky enter the picture.

I suppose the DOW will take another dive today over this news.
Because it was a bogus plan that again went for big business with no oversight.  It was corruption from the start and bad for the country.  Also, Pelosi is in the House so blaming her for the GOP BS in the Senate that couldn't get enough dem support is hilarious.  She and Mnuchin had a bipartisan deal for aid worked out...how dod the gop treat that in the Senate?

 
JohnnyU said:
The Dems were all in until Nancy and Chuck entered the picture.

In the meanwhile my 403b and your 401k tanks again today.  I should be broke by October.
Nancy entered the picture in the Senate?  Nobody was all in on this bogus slush fund plan.

 
Ok, but at this time I'm not going to argue with anyone Dem vs Rep.  All I know is they need to agree on something and get it in play.  I hate politicians. 
Yet your whole tone was claiming it had bipartisan support until chuck and Nancy messed that up and blaming democrats. Which is not a fair statement.  Especially given how awful the gist of that bill was.

 
The other thing is that the GOP doesn't have 50 votes in the senate right now.  After Rand Paul's behavior yesterday, it could be less soon.  Mitch may want to reach out to the other side.

 
Any truth to this?

Senate Democrats, though, not only wanted to excuse borrowers who might be struggling from job losses or cuts in pay from having to make the payments. They want the federal government to make the payments for them so that their balance would be reduced by at least $10,000.

thats from inside higher ed. 

If true, i despise that idea. 

 
That is the canned response to every Republican proposal.  Bush 'tax cuts for the rich' were across the board tax cuts which disproportionately benefited lower and middle income people.  I will like to see numbers before I believe the rhetoric, not that it may not be true though.  
When has it not been true?

 
JohnnyU said:
People are corporations and corporations make up our economy.  Tell me why they were bipartisan on this bill until Nancy stuck her nose into it?
WORKING PEOPLE make up this economy.  Why is the GOP dragging its heels on this?  Why do they disregard ordinary people at every turn (whether it's to help with testing for COVID, supplying ventilators, or financial assistance)?

 
Seems pretty straight forward to me as to where the blame lies for the lack of any compromise...

McConnell has defended his approach, telling CNN's Dana Bash Thursday, "Republicans are in the majority in the Senate. We wanted to put forward our proposal. We feel like we have an obligation to do that as a majority and the Democrats, of course, need to be given an opportunity to react to it."

But Rand Paul went and finished off the GOP majority in the Senate and now compromise is required.

 
McConnell has defended his approach, telling CNN's Dana Bash Thursday, "Republicans are in the majority in the Senate. We wanted to put forward our proposal. We feel like we have an obligation to do that as a majority and the Democrats, of course, need to be given an opportunity to react to it."
Except he never intended for Democrats to be given that opportunity. He timed it so that he could say “too late to argue! You have to pass it now or the market collapses!” 

To be fair, he probably learned this strategy from Nancy Pelosi, who used it very effectively in 2008 in order to pass TARP. 

 
This is one of the primary provisions under protest.  I'm open to seeing good reasons for requesting something like this.  I can't see them on my own.

https://twitter.com/JakeSherman/status/1241777928939110401?fbclid=IwAR3cMh5Kh8HlJMXjfuQgCUcYtEYbz7FYh9Pvt85DTXP5i3fHBHaas8zBaNs
A good reason for something like this is to lower the outlays the government would have to put out.  If you announce who gets the bailout, there is a market stigma on that company vis-à-vis their peers.  Without public disclosure you could more easily target the firms that actually need it.  This was an initial argument during TARP too and, if you recall, the Treasury/Fed basically had to force every large bank to take TARP funds once it passed with more oversight.

So that is the pro side and it would get a lot more play with an administration that was not completely corrupt and a reporting period that puts them after the election.  Trump could literally bailout his own properties and use those funds towards his re-election.

Ultimately, the tax payers deserve to know who they are bailing out and have an IG oversee fund disbursement...regardless of who the president is.

 
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I heard Sen Warren wanting $200 per month more per year for Social Security  and to cancel some student loan debt in the bill as well. The SS part i disagree with. But  wanting more control  to see that money to large corporations isn't going to stock buy back and executive salaries I like. 

 
A good reason for something like this is to lower the outlays the government would have to put out.  If you announce who gets the bailout, there is a market stigma on that company vis-à-vis their peers.  Without public disclosure you could more easily target the firms that actually need it.  This was an initial argument during TARP too and, if you recall, the Treasury/Fed basically had to force every large bank to take TARP funds once it passed with more oversight.

So that is the pro side and it would get a lot more play with an administration that was not completely corrupt and a reporting period that puts them after the election.  Trump could literally bailout his own properties and use those funds towards his re-election.

Ultimately, the tax payers deserve to know who they are bailing out and have an IG oversee fund disbursement...regardless of who the president is.
Sorry GB....the word "good" here is doing a lot of heavy lifting.  I had thought about this initially and had wondered if this was shades of TARP.  Then I came to the conclusion that anyone who is dumping on companies who need the aid in a time where they did nothing to bring this on is a tool of epic proportion and their opinion is of no consequence to me.  This is very different from the situation where the groups being bailed out are the ones that caused the problems.  My :2cents:  

Completely agree with your last statement.

 

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