Great stuff from @DamonSilvers of @AFLCIO - "Then as now, big banks and big companies wanted money without conditions. Everything seemed so much easier that way. Government officials wanted flexibility, and no unpleasantness." 1/5 prospect.org/economy/repeat…
But the result was that Wall Street and company executives got what they wanted, and the public, and anyone else who was supposed to be helped, like homeowners in 2008, and workers today, ended up with crumbs, or worse. 2/5
The American economy needs huge help now—trillions of dollars to support employment and keep broad swaths of otherwise healthy American business from collapsing. That requires real accountability, real oversight. 3/5
That help should first and foremost take the form of direct employment support and help for those who nonetheless end up without work. Yes, some help for severely affected industries is needed. 4/5
We need to give it in a way that strengthens the public’s faith in our democracy and achieves the public purposes that the money was intended to achieve. And that means doing a lot better than we did in the bank bailout. 5/5
