Agree w/ this Asian CEO because U.S. is not run by government but by corporation

[theking]

 :

Fed should pay every American more, let hedge funds and billionaires ‘get wiped out,’ says Social Capital CEO

‘What we’ve done is disproportiona tely prop up poor-performing CEOs and boards,’ Chamath Palihapitiya tells CNBC

Is the Fed’s massive coronavirus stimulus package helping the ultra-rich at the expense of ordinary American workers? That’s what Chamath Palihapitiya, chief executive of venture-capital firm Social Capital LP, argued Thursday.

...“Just to be clear on who we are talking about. We’re talking about a hedge fund that serves a bunch of billionaire family offices. Who cares? They don’t get the summer in the Hamptons?” Palihapitiya said. “Who cares? Let them get wiped out.”

“What we’ve done is disproportiona tely prop up poor-performing CEOs and boards, and you have to wash these people out,” he said.

The Fed on Thursday set up a new $2.3 trillion lending program to help prop up small and mid-sized businesses.

But Palihapitiya argued that rather giving workers relatively small $1,200 checks, the U.S. would be better off giving everyone larger payments directly, and skip businesses entirely.

“It would be better for the Fed to have given half a million to every man, woman and child in the United States,” he said.

Later, Palihapitiya tweeted that Americans should also get their 2019 taxes refunded as a form of universal basic income.

@chamath
caught your interview on.. Had a question. if we let airlines go bankrupt and they kept employees on, where would the employees salaries come from with no revenue coming in due to the virus? No business should take on debt after coming out of bankruptcy?


@hammyhamdog
 and
@HalftimeReport
UBI. We should spend $8T and give every American their 2019 taxes back.

Apr 9

@HalftimeReport
Chamath, I just listened to your interview on CNBC and was riveted by your wisdom and profound assessment. I couldn't AGREE more with you. Hopefully Americans will hear your message. Thank you.
Joe Harvey

Apr 9

@HalftimeReport
Agreed with your interview. Fed is propping up many companies that should be allowed to fail. They will be resurrected, employ and do business eventually if they are any good. In the meantime, Govt. should get money into hands of individuals to decide where to spend. Enough!

Apr 9

@HalftimeReport
Clearly Americans need to protest after this pandemic.
America is the opposite of socialism and communism, it is corporate favoritism.

[hmgROCK]

a day late
A dollar short

Been saying this stuff over at the PH money investment
I know you know
Because your dumbass comment and troll

Lol

[hmgROCK]

Gotta let capitalism do its job
These business need to die

 

[theking]

a day late
A dollar short

Been saying this stuff over at the PH money investment
I know you know
Because your dumbass comment and troll

Lol

I never claim it was new...

What a "dumbass".."DUMB AS A" hmg "ROCK"..

No wonder you're the "biggest troll" per other PHers..

"Lol"