Thom Hartmann: Are We Headed for a 2008 Repeat of a Bailout of the Plutocrats?

April 10th 2020

Federal Reserve Protest, Charlotte (James Willamor)

By Thom Hartmann

The Federal Reserve said yesterday that they could pump over $2 trillion into the economy, while other reports suggested it could be over $4 trillion. All of this is done without oversight and regulation by Congress, based on decisions made exclusively by the Fed. In 2008, in the wake of the Bush Crash, the Fed passed out trillions of dollars to billionaires and big banks, bailing out the wealthy and powerful. It looks like we’re set for a repeat of that performance. Will there be a bailout for average people, poor people, and the homeless? Not so much, as Republicans complain about the cost of helping average people and resist a call for regular monthly payments, and Ivanka Trump is put in charge of the small business effort so, presumably, the Trump family businesses can take good care of themselves…