America’s Main Street Bailout Is Failing

The US government CARES act coronavirus economic bail out was supposed to help Main Street and small business. It turns out the Federal Reserve's bail out has been a huge boon to Wall Street and giant corporations instead. And the banks aren't helping.

Related Episodes:
The Fed is Printing Money: Is This A Good Idea?
Congress Battles Over Coronavirus Cash
Coronavirus: 10 Million Americans Jobless in Two Weeks
Trump's Plan to Reopen the Economy

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[ThinWhiteAxe]

Petition for America Uncovered to start a series of Matt's rabbit holes

[e-machine-ol]

Who’s ready for another round of roaring 20’s I know I’m not.

[LockCard]

the most unbiased news in all of america, you guys are hero's

[ILLFilms]

Printing trillions of dollars will actually help us all. Toilet paper is scarce.

[rexmann]

This guy needs his own channel that goes down all these rabbit holes.

[LuisAbreu]

The Federal Reserve is no more “federal” than Federal Express.

[technotoad]

Of course Wall Street is fine. The Oligarchs are going to protect their own.

[taipizzalord]

Privatise the profits and socialize the losses.

[RegularSizeRick]

I blame congress. They should have written a better bill that gave the banks the right incentives.

[MonkeyWrenching]

As a self employed/sole proprietorship, I got screwed the minute my governor saw some power to grab. But I don’t wanna get into that, not in this comment.

[ionmatika]

The main problem with the small business loan is the banks managing it.

[indirectlc]

Big corporations: the virus have affected me so much that I have been losing money for over two years.

[claytontindell]

I am reminded of a quote from rand Paul.

Capitalism would be great if we tried it.

[saekka]

I'd be interested to see a regular segment where Matt talks about economic news and analysis. You could call it "Matt in Wonderland".

[orbusg]

The banks raking it in while screwing the people that actually need help.
Business as usual.

[yellowleo]

Boycott all public traded companies who keeps the loan, hurt them in the pocket.

The reason they ran out of money is because Marco Rubio changed the definition of small business to any business that have less than 500 people PER LOCATION.
That meant that big business could get the loans as long as they didn't have 500 employees per location. And since they usually owed the banks money, the banks gave them preferential treatment as they got more money from dealing with those who owed them money than to those who didn't owed them money.
Is corruption. And I would say FASCISM. Which is big corporations and government conspiring against the best interest of the people.

[Emanon...]

We need a "Economy Explained: Down the rabbit hole"

[christophersica]

This is the reason why poor stay poor and rich stay rich

[_MintArcade]

Not to mention that those multi million big corp that "accidentally" claim the PPP funds… So who's looking after the little guys?