The tax bailout of 2017 was squandered. In 2008 when the government bailed out GM, Ford didn't need it. Why? Because the company took loans when there was zero interest rate. Ford was flush with money because it planned for the future. There are financial instruments that already exist that can address companies floundering now. Bailing them out is not the answer. The American people are hurting because of a global pandemic AND THAT IS WHERE THE GOVERNMENT'S RESPONSIBILITY LIES.
The financial markets have investors and they take a risk. If they didn't plan for this pandemic as a probability within that risk assessment after PRESIDENT OBAMA openly addressed this PROBABILITY, not a possibility, in a speech, then they need to look to the financial instruments that already exist to decide the path of their OWN RISK.
Since the Wright Brothers invented flight, there is not a president that hasn't bailed out an airline. This may be a difficult time for airlines, but, there exist financial instruments to address the corporate structure. It is the employees that need to be supported. When employee incomes are maintained the markets will grow again. Until the employees are receiving income, the markets will be lackluster. This is a pandemic, not a global economic collapse. It only looks that way because the "ready cash" was there to be grabbed in pensions and 401Ks. Who is going to make them whole again? Nobody because Wall Street saw an opportunity to take what is not theirs. THAT is the real immorality and Americans know it.
By the way, the “Wet Markets” in China where wildlife is sold as food are still operating because of a trade war that removed American agricultural goods from the bellies of the poorest of the Chinese people.
