As Schumer pushes for payments for workers, hospitals, etc, the slush fund becomes even more useless except as a shareholder and executive bailout.
Just take the good stuff in the bill and cut out the slush fund.
Just take the good stuff in the bill and cut out the slush fund.
If Hilton can lay off its workers and the workers get full wages for four months, why do we care if Hilton goes into bankruptcy? If we hand Hilton cash with no obligation to keep workers on payroll, what will it do with the money except pay execs and shareholders and creditors?
This is worse than the 2008 bailouts because you could at least argue banks had systemic importance and needed to survive. That is not the case for cruise lines or hotels or casinos. Let them go bankrupt and keep their workers on payroll. It'll be fine.
If we pass the worker, health care, and small biz parts of the bill we can punt on the corporate slush fund. It’s not pressing and we can take time to decide if we really need it and under what terms. Take care of the public and big business will probably be fine.
