$700 million dollar Covid loan by Trump Administration is uncollectible

Author: IwantRooseveltagain

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#1
IwantRooseveltagain
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The brilliant businessman pissed away trillions of taxpayer money (which he isn’t one of) in just 4 years.

A Covid loan to Yellow trucking is likely lost and the government’s 30% stake in the bankrupt company is worthless.

If there’s one thing Trump understands, it’s bankruptcy 

“In 2020, career employees at the Defense Department decided that they should not certify that Kansas-based Yellow Corp. was critical to maintaining national security, which would mean the company could not qualify for a loan program created by Congress earlier in the pandemic, the investigation found. They communicated that decision to the Treasury Department on June 24, 2020, according to emails quoted in the report.
 But the Trump appointees ignored that decision after a newly revealed phone call between Treasury Secretary Steven Mnuchin and Defense Secretary Mark T. Esper on June 26, 2020”
#2
FLRW
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@IwantRooseveltagain

You can see why Putin wanted Trump to be President. Russian President Vladimir Putin said in 2018 that he wanted President Donald Trump to win the 2016 election because he believed Trump’s policies would be more friendly to the Kremlin. And he knew Trump would raise the National Debt 40 percent.
#3
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@FLRW
If your enemy wants a certain man to be your president, then you should not do a favor to your enemy. Putin says that Trump is in his interest. Trump says he wants to cooperate with Putin. We shouldnt help Putin.
#4
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@Best.Korea
They had to declare bankruptcy because a judge wouldn't allow them to hire scabs to replace the union workers. Now every union worker is permanently out of a job. Go unions!
#5
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@Greyparrot
a judge wouldn't allow them to hire scabs to replace the union workers. Now every union worker is permanently out of a job. Go unions!
If they can't afford to pay their workers properly, then they are a poorly run company. It is never pleasant for a company to go bankrupt, but if you prop up bad companies then nothing will ever improve. With them gone, it makes room for more competent companies to take their place. 

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"Now here we are, $535 billion in wasted taxpayer dollars later, and it seems that the administration is intent on going full speed ahead. In fact, the president recently said in an interview that the Solyndra deal was 'a good bet.' Talk about a disconnect."

 Enrollment figures are far less than anticipated and the costs are going to be far more than anticipated from the Congressional Budget Office’s original $938 billion to more than $1.3 trillion.

Biden's regular trips to his home state of Delaware have cost taxpayers at least $11 million. Biden has made close to 57 visits over the last 185 days.

 So much for that! Yellen is going to bat for the Democrats’ $3.5 trillion (and probably much more) spending plan, even after trillions in stimulus. The eminent economist now seems to think that, despite all evidence to contrary, inflation and interest rates won’t rise — and increasing our astronomical $23 trillion in national debt won’t be a drag.

I can go on and on and on...

Your TDS spam threads bitching about Trump is nonsensical when anyone can prove others, namely liberal democrats, have spent far more and done far more damage to America than what you "claim" Donald J. Trump has done. 
#7
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@HistoryBuff
Good point. I guess Trump was accidentally right about not subsidizing this corporation with welfare.
#8
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@Greyparrot
 guess Trump was accidentally right about not subsidizing this corporation with welfare.
What? Trump did subsidize this corporation with welfare. That is the point. That he pissed tons of money down the drain. 
#9
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@HistoryBuff
I'm sorry, I meant to say the Trump appointees were right.

 the Treasury Department received a nearly 30 percent equity stake in the company in return for the 700 million dollar loan. 
The government should never be in the business of purchasing equity of private businesses with tax payer funds. But we live in a world of crony capitalism, and corporate welfare.
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@Greyparrot
The government should never be in the business of purchasing equity of private businesses with tax payer funds.
I disagree with the broadness of your statement. There are lots of government owned and run corporations that work towards the well being of citizens in countries around the world. As long as a government is planning on using the investment to provide services to it's people, then buying a business could make sense. But yes, the refusal of governments to reign in the stupidity and excesses of the corporations, then bailing them out when their stupidity and excess catches up with them is horrifying. 

#11
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@HistoryBuff
The bank bailouts was the absolute worst.
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#12
IwantRooseveltagain
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They had to declare bankruptcy because a judge wouldn't allow them to hire scabs to replace the union workers. Now every union worker is permanently out of a job. Go unions!
Assuming that’s true, and with your history that is very unlikely, this has nothing to do with the Trump Administration lying, saying the company was needed for National Security and loaning the company money that they didn’t rate.

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#13
IwantRooseveltagain
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I can go on and on and on...
With more and more nonsense. More childishly banal whataboutism.

Nobody added more to the National Debt in 4 years than Donald Trump. 8 Trillion in 4 years.  Without Democrats you wouldn’t be getting your disability payments and free healthcare 
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#14
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Good point. I guess Trump was accidentally right about not subsidizing this corporation with welfare.
What? He did subsidize Yellow trucking with a 700 million dollar loan after he botched the Federal response to Covid

I'm sorry, I meant to say the Trump appointees were right.
No, Steve Munchin, appointed by Trump, overruled the Pentagon bureaucrats 

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#15
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This is how it works in America:

1. Republicans deregulate the economy thinking Laissez faire policies are the best and regulations are holding back tremendous growth 

2. Businesses take reckless risks motivated by greed and it blows up in their face putting the overall economy at risk.

3. The government (mostly democrats) have to step in to prevent disaster.

4. The economy recovers and Republicans start saying we need less government involvement in the economy 

Repeat steps 1-4


#16
Best.Korea
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Golden hair blowing,
Powerful words fill the air,
Trump card in his hand.


#17
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@Greyparrot
The bank bailouts was the absolute worst.
agreed. The government didn't put any rules in place to control their overwhelming greed and allowed them to tank the economy. Then bailed them out after they tanked the economy. And now republicans are rolling back what little regulation was actually put in place to dissuade them from doing it again. The american people got the worst outcome. 

#18
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Topic's author
#19
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So you post nothing more than a link. That is SPAM. AND a stupid link to boot.
#20
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Says the clown who posts links onky with stupid commentary that has nothing to do with the link given. 

AND a stupid link to boot.
Says the clown who posts stupid TDS links all the damn fucking time with zero context. 

Either way, classic genetic fallacy. The title of the link speaks for itself within the context of this stupid TDS thread. 
Topic's author
#21
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who posts stupid TDS links all the damn fucking time with zero context. 
That’s a lie. I always comment on my link. You are a disabled, unemployed, liar. It’s good for the country that you have no offspring. It’s best for everyone.