The survival of people & businesses are on the line now so immediate relief is needed not down the road policy revision!
Thank you Senators Cardin & Van Hollen for immediate action & changes to insure corporate aid is monitored & restrict use so it doesn’t end up being stock buy back, dividends, executive compensation, layoffs, etc; for the hospital Marshall plan, and funds to people & small businesses! This has removed most of my concerns.
One concerning item reported in Forbes (3-17-20) is that banks are only forgoing stock buybacks for the 2nd quarter 2020 (April-June), surely these loans are for a longer period of time or will the have paid them back by June?
“Bank of America, Goldman Sachs, Bank of New York Mellon, Citigroup, JP Morgan Chase, Morgan Stanley, State Street, and Wells Fargo have stopped all stock buybacks for the 2nd quarter in order to maintain their solvency and liquidity for customers during the outbreak.”