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The Fed Bailed Out Corporations & The Rich During COVID. Where Is Relief For The Working Class?

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Sasha Maslov/The New York Times
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Wall Street investors are wary of a second wave of the coronavirus outbreak that could force economic activity to halt once more.

On this edition of Your Call, we'll find out how the pandemic bailout benefited the rich instead of the working class. According to ProPublica, those $1,200 stimulus payouts were small change compared with the billions in tax breaks the CARES Act handed out to the country’s wealthiest.

The New York Times reports that hospitals got bailouts and paid CEOs millions as thousands of employees were laid off or furloughed.

According to the Labor Department, 44 million people are receiving unemployment benefits. Who’s fighting for the working class? 

Guests:

David Dayen, executive editor of The American Prospectand author of Chain of Title: How Three Ordinary Americans Uncovered Wall Street's Great Foreclosure Fraud

Jesse Eisinger, award-winning reporter and editor at ProPublica and author of the The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives

 

Web Resources: 

The Intercept, David Dayen: How the Fed Bailed Out the Investor Class Without Spending a Cent

ProPublica, Jesse Eisinger:The Bailout Is Working — for the Rich

The Nation, Jane McAlevey: We Really Need to Tax the Rich 

ProPublica, Allan Sloan: The CARES Act Sent You a $1,200 Check but Gave Millionaires and Billionaires Far More 

The New York Times, Jessica Silver-Greenberg, Jesse Drucker and David Enrich: Hospitals Got Bailouts and Furloughed Thousands While Paying C.E.O.s Millions

Rose Aguilar has been the host of Your Call since 2006. She became a regular Friday media roundtable guest in 2001.