bonginoreport--2020-03-16--Big Banks Halt Stock Buybacks to Weather Coronavirus Storm

NEW YORK ( Reuters ) - The United States ’ biggest banks will stop buying back their own shares , and will instead use that capital to lend to individuals and businesses affected by the coronavirus , an industry trade group said on Sunday .
The Financial Services Forum said its eight members - JPMorgan Chase & Co ( JPM.N ) , Bank of America Corp ( BAC.N ) , Citigroup Inc ( C.N ) , Wells Fargo & Co ( WFC.N ) , Goldman Sachs Group Inc ( GS.N ) , Morgan Stanley ( MS.N ) , Bank of @ @ @ @ @ @ @ and State Street Corp ( STT.N ) - would each halt share repurchases through June 30 .
“ The COVID-19 pandemic is an unprecedented challenge for the world and the global economy and the largest U.S. banks have an unquestioned ability and commitment to supporting our customers , clients and the nation , ” the group said in a statement , referring to a severe and sometimes fatal respiratory infection that stems from the coronavirus .
The decision follows pressure from some U.S. lawmakers , who last week urged big banks to stop @ @ @ @ @ @ @ support customers and the broader economy .
It also comes within hours of the U.S. Federal Reserve slashing interest rates further and Wall Street ’ s home city , New York , detailing plans to close schools and senior centers , and toughen enforcement of restrictions on bars and restaurants .
Federal Reserve Chairman Jerome Powell said on a call with reporters the Fed has given broad general guidance to the banks to “ use their buffers to provide loans and also to work with their borrowers.
” “ We hear the banks @ @ @ @ @ @ @ going to do , so that ’ s a good thing , ” Powell said .
The Financial Services Forum said its 8 member banks have grown their collective capital by more than 40 % in the last decade to $ 914 billion .
“ ( It is ) our collective objective to use our significant capital and liquidity to provide maximum support to individuals , small businesses , and the broader economy through lending and other important services , ” according to the group ’ s statement .
The group said the @ @ @ @ @ @ @ by the Fed , the White House and Congress , and that every bank is free to re-start share repurchases before June 30 if circumstances change .
JPMorgan , the largest U.S. bank , said in a separate statement that it will use the extra funds to support lending to individuals , business owners and governments , and add liquidity in capital markets , “ even if circumstances get dramatically worse .
”

NEW YORK (Reuters) - The United States’ biggest banks will stop buying back their own shares, and will instead use that capital to lend to individuals and businesses affected by the coronavirus, an industry trade group said on Sunday.
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files
The Financial Services Forum said its eight members - JPMorgan Chase & Co JPM.N, Bank of America Corp BAC.N, Citigroup Inc C.N, Wells Fargo & Co WFC.N, Goldman Sachs Group Inc GS.N, Morgan Stanley MS.N, Bank of New York Mellon Corp BK.N and State Street Corp STT.N - would each halt share repurchases through June 30.
“The COVID-19 pandemic is an unprecedented challenge for the world and the global economy and the largest U.S. banks have an unquestioned ability and commitment to supporting our customers, clients and the nation,” the group said in a statement, referring to a severe and sometimes fatal respiratory infection that stems from the coronavirus.
The decision follows pressure from some U.S. lawmakers, who last week urged big banks to stop using funds to repurchase shares and instead support customers and the broader economy.
It also comes within hours of the U.S. Federal Reserve slashing interest rates further and Wall Street’s home city, New York, detailing plans to close schools and senior centers, and toughen enforcement of restrictions on bars and restaurants.
Federal Reserve Chairman Jerome Powell said on a call with reporters the Fed has given broad general guidance to the banks to “use their buffers to provide loans and also to work with their borrowers.”
“We hear the banks saying that is exactly what they are going to do, so that’s a good thing,” Powell said.
The Financial Services Forum said its 8 member banks have grown their collective capital by more than 40% in the last decade to $914 billion.
“(It is) our collective objective to use our significant capital and liquidity to provide maximum support to individuals, small businesses, and the broader economy through lending and other important services,” according to the group’s statement.
The group said the banks’ decision was consistent with actions by the Fed, the White House and Congress, and that every bank is free to re-start share repurchases before June 30 if circumstances change.
JPMorgan, the largest U.S. bank, said in a separate statement that it will use the extra funds to support lending to individuals, business owners and governments, and add liquidity in capital markets, “even if circumstances get dramatically worse.”


bonginoreport--2020-03-16--Domestic Travel Restriction for All U.S. Military Personnel Takes Effect

Here ’ s how the US military is preparing for COVID-19 With forces in more than 150 countries around the world , the United States military is starting to adopt broader measures to protect personnel from the global COVID-19 pandemic .
A sweeping domestic travel restriction for all U.S. military personnel went into effect on Monday , March 16 in an effort to mitigate the spread of the coronavirus , though in-person work is still on for most of the military .
The measure , which applies to military families on bases , was announced on Friday , March 13 @ @ @ @ @ @ @ May 11 .
Service members are allowed to take local leave .
The Pentagon , Air Force , Coast Guard have authorized some personnel to work remotely if possible .
The U.S. Marine Corps on the U.S. eastern seaboard ordered an operational pause over the weekend , requiring only essential personnel to report for duty .
The U.S. Navy reserve has postponed drill duties for most reservists until May 11 and put a 60-day halt to non-mission essential travel .
The U.S. Army has suspended movement and ordered a delay on travel for @ @ @ @ @ @ @ of the countries hardest hit so far .
New York Governor Andrew Cuomo called on Washington to deploy the U.S. Army Corps of Engineers to prepare buildings in the state for use as makeshift hospitals .
As of Monday afternoon , the military has not yet received any formal request for the USACE ’ s help , Defense Department spokesperson Jonathan Hoffman told reporters at the Pentagon .
As of Sunday morning , 37 U.S. Defense Department personnel were confirmed positive for COVID-19 , Hoffman said Monday .
That number includes 18 service @ @ @ @ @ @ @ and three contractors .
The department has conducted 495 tests for the virus as of Sunday , according to Joint Staff Surgeon USAF Brigadier General Paul Friedrichs .
On Sunday , a U.S. Navy sailor assigned to the USS Boxer – currently in San Diego , California – was announced to have tested “ presumptive positive , ” marking the military ’ s first known case aboard a ship .
A U.S. Army soldier in Europe tested positive for the virus last week , Europe Command announced Saturday .
The soldier was the @ @ @ @ @ @ @ member in Europe , after a Navy sailor tested positive in Italy on March 7 .
A civilian employee at Ramstein Air Base in Germany also tested positive on Saturday .
Last week , the military restricted personnel from traveling to countries deemed “ level 3 , ” the highest level of risk warning by the U.S. Center for Disease Control and Prevention ( CDC ) .
U.S. Army Europe on Monday cancelled key components of its showcase Defender-Europe 20 exercise with NATO .
The Army said it dropped linked exercises Dynamic Front @ @ @ @ @ @ @ and Swift Response “ health , safety and readiness of our military , civilians , and family members.
” The exercises were to include more than 37,000 participants from 18 NATO member states – 20,000 troops deploying from the continental U.S. to join another 9,000 U.S. service members based in Europe and 8,000 soldiers from other countries , including almost 3,000 from Poland .
As of March 13 , all movement of personnel and equipment from the United States to Europe has ceased .
On Saturday , United States Africa Command announced the @ @ @ @ @ @ @ joint exercise to build West African militaries ’ abilities to counter sea-based illicit activity .
AFRICOM also cancelled African Lion , an annual exercise with more than 5,000 participants scheduled to begin on March 23 .
The command had previously scaled down plans for the African Lion exercise to avoid troops billeting together in close quarters in Morocco , Senegal , Spain and Tunisia .
“ Out of an abundance of caution , the decision to cancel the exercise was made based on international travel restrictions associated with the novel coronavirus ( COVID-19 @ @ @ @ @ @ @ exposure to U.S. and partner nation service members , ” AFRICOM said Monday .
Norway cancelled this year ’ s Exercise Cold Response last week after consulting with allies .
The World Health Organization classified the COIVD-19 as a pandemic last week .
There are 164,837 known cases and 6,470 coronavirus deaths worldwide , according to the World Health Organization .
The pandemic is expected worsen before a vaccine can be produced , but quarantining and self-isolation can significantly slow its spread .
International responses to the virus have included closing national borders @ @ @ @ @ @ @ .
This story was updated at 1738 on March 16 to add the cancellation of exercise African Lion , and again at 1842 to include the U.S. military ’ s updated number of COVID-19 cases .

Here’s how the US military is preparing for COVID-19
With forces in more than 150 countries around the world, the United States military is starting to adopt broader measures to protect personnel from the global COVID-19 pandemic.
A sweeping domestic travel restriction for all U.S. military personnel went into effect on Monday, March 16 in an effort to mitigate the spread of the coronavirus, though in-person work is still on for most of the military.
The measure, which applies to military families on bases, was announced on Friday, March 13 and is in effect until at least May 11. Service members are allowed to take local leave.
The Pentagon, Air Force, Coast Guard have authorized some personnel to work remotely if possible. The U.S. Marine Corps on the U.S. eastern seaboard ordered an operational pause over the weekend, requiring only essential personnel to report for duty.
The U.S. Navy reserve has postponed drill duties for most reservists until May 11 and put a 60-day halt to non-mission essential travel. The U.S. Army has suspended movement and ordered a delay on travel for personnel in Korea and Italy, two of the countries hardest hit so far.
New York Governor Andrew Cuomo called on Washington to deploy the U.S. Army Corps of Engineers to prepare buildings in the state for use as makeshift hospitals.
As of Monday afternoon, the military has not yet received any formal request for the USACE’s help, Defense Department spokesperson Jonathan Hoffman told reporters at the Pentagon.
As of Sunday morning, 37 U.S. Defense Department personnel were confirmed positive for COVID-19, Hoffman said Monday. That number includes 18 service members, 13 dependents, three civilians and three contractors.
The department has conducted 495 tests for the virus as of Sunday, according to Joint Staff Surgeon USAF Brigadier General Paul Friedrichs.
On Sunday, a U.S. Navy sailor assigned to the USS Boxer – currently in San Diego, California – was announced to have tested “presumptive positive,” marking the military’s first known case aboard a ship.
A U.S. Army soldier in Europe tested positive for the virus last week, Europe Command announced Saturday. The soldier was the second confirmed case of a U.S. military member in Europe, after a Navy sailor tested positive in Italy on March 7. A civilian employee at Ramstein Air Base in Germany also tested positive on Saturday.
Last week, the military restricted personnel from traveling to countries deemed “level 3,” the highest level of risk warning by the U.S. Center for Disease Control and Prevention (CDC).
Multinational military exercises in Europe and Africa cancelled
U.S. Army Europe on Monday cancelled key components of its showcase Defender-Europe 20 exercise with NATO. The Army said it dropped linked exercises Dynamic Front, Joint Warfighting Assessment, Saber Strike and Swift Response “health, safety and readiness of our military, civilians, and family members.”
The exercises were to include more than 37,000 participants from 18 NATO member states – 20,000 troops deploying from the continental U.S. to join another 9,000 U.S. service members based in Europe and 8,000 soldiers from other countries, including almost 3,000 from Poland.
As of March 13, all movement of personnel and equipment from the United States to Europe has ceased.
On Saturday, United States Africa Command announced the cancellation of exercise Obangame Express, a joint exercise to build West African militaries’ abilities to counter sea-based illicit activity.
AFRICOM also cancelled African Lion, an annual exercise with more than 5,000 participants scheduled to begin on March 23.
The command had previously scaled down plans for the African Lion exercise to avoid troops billeting together in close quarters in Morocco, Senegal, Spain and Tunisia.
“Out of an abundance of caution, the decision to cancel the exercise was made based on international travel restrictions associated with the novel coronavirus (COVID-19) and to minimize the risk of exposure to U.S. and partner nation service members,” AFRICOM said Monday.
Norway cancelled this year’s Exercise Cold Response last week after consulting with allies.
The World Health Organization classified the COIVD-19 as a pandemic last week.
There are 164,837 known cases and 6,470 coronavirus deaths worldwide, according to the World Health Organization. The pandemic is expected worsen before a vaccine can be produced, but quarantining and self-isolation can significantly slow its spread.
International responses to the virus have included closing national borders, curfews and restricting civilian air travel.
This story was updated at 1738 on March 16 to add the cancellation of exercise African Lion, and again at 1842 to include the U.S. military’s updated number of COVID-19 cases.


bonginoreport--2020-03-16--Mexico Suddenly Interested in Border Security

Not long after the media blasted President Donald Trump for proposing closing the borders and restricting travel in response to the Coronavirus , the rest of the planet began closing their borders and restricting travel in response to the Coronavirus .
Echoing a “ point ” made by many in the media , Joe Biden said that a “ wall can not stop Coronavirus ” – a statement at odds with the obvious fact that less movement of people means less chance for a virus to spread .
In fact , so air tight is the logic that there are @ @ @ @ @ @ @ U.S.-Mexico border… .
from Mexico .
According to the Jerusalem Post : Mexico could consider measures at its northern border to slow the spread of the coronavirus into its relatively unaffected territory , health officials said on Friday , with an eye to containing a US outbreak that has infected more than 2,000 people .
Mexican Deputy Health Minister Hugo Lopez-Gatell said contagion from the United States was a threat .
“ If it were technically necessary to consider mechanisms of restriction or stronger surveillance we would have to take into account not @ @ @ @ @ @ @ the United States , rather that the United States could bring it here , ” he told a news conference.
” The possibility of infection is of particular concern to residents in Mexican frontier cities such as Tijuana – just opposite San Diego , California – many of whom cross the border daily for work or school .
Many of them now fear picking up the virus in the United States .
In case they need any ideas , we strongly encourage them to build a wall – and pay for it !

Not long after the media blasted President Donald Trump for proposing closing the borders and restricting travel in response to the Coronavirus, the rest of the planet began closing their borders and restricting travel in response to the Coronavirus.
Echoing a “point” made by many in the media, Joe Biden said that a “wall cannot stop Coronavirus” – a statement at odds with the obvious fact that less movement of people means less chance for a virus to spread. In fact, so air tight is the logic that there are renewed calls to stop travel at the U.S.-Mexico border…. from Mexico.
According to the Jerusalem Post:
Mexico could consider measures at its northern border to slow the spread of the coronavirus into its relatively unaffected territory, health officials said on Friday, with an eye to containing a US outbreak that has infected more than 2,000 people. Mexican Deputy Health Minister Hugo Lopez-Gatell said contagion from the United States was a threat. “If it were technically necessary to consider mechanisms of restriction or stronger surveillance we would have to take into account not that Mexico would bring the virus to the United States, rather that the United States could bring it here,” he told a news conference.” The possibility of infection is of particular concern to residents in Mexican frontier cities such as Tijuana – just opposite San Diego, California – many of whom cross the border daily for work or school. Many of them now fear picking up the virus in the United States.
In case they need any ideas, we strongly encourage them to build a wall – and pay for it!


bonginoreport--2020-03-16--Biden Campaign Turns to “Virtual” Fundraisers

Raising campaign money during a deadly virus outbreak will be a challenging task , but Joe Biden thinks he has at least a partial solution : holding `` virtual '' fundraisers .
The former vice president , who increasingly looks to be the Democratic nominee to face President Trump in November , will begin hosting fundraisers online in response to the coronavirus pandemic , with his first so-called virtual fundraiser on Thursday , a person close to the campaign tells FOX Business .
It 's unclear exactly how the campaigns will hold virtual fundraisers .
One possibility : using the @ @ @ @ @ @ @ people can interact via their iPhone or their computer .
The candidates themselves can log in and answer questions ; people can pay for tickets to attend the Zoom town halls where donations are solicited .
One thing is certain : the pandemic has pushed the 2020 presidential campaign into uncharted territory .
Campaigns are looking to minimize the risk not only to donors and supporters , but also to candidates themselves .
CORONAVIRUS OUTBREAK UNLIKELY TO CAUSE US RECESSION : MNUCHIN Biden , is 77 years old , while his remaining Democratic @ @ @ @ @ @ @ is 78 .
Trump is 73 , thus putting all of them in the most at-risk demographic for COVID-19 's most debilitating effects .
Sunday night ’ s Democratic debate between Biden and Sanders will be held without a live audience , and the candidates will be separated at podiums at a further distance than past debates .
At the same time , as health practices like social distancing begin to alter life in America , candidates are looking for ways to maintain some semblance of a campaign , such as fundraisers and @ @ @ @ @ @ @ Florida , Arizona , Ohio and Illinois are looming , and the cost of ads and staff will remain constant even as traditional social interactions , such as rallies and fundraising events are coming to a standstill .
Biden , for his part , held his first virtual town hall Saturday where the 77-year-old tried to livestream a campaign message to supporters .
The stream cut off Biden 's opening remarks and lasted less than five minutes ; the campaign later apologized to viewers for `` technical difficulties . ''
Whether Biden can @ @ @ @ @ @ @ and fund his campaign remains to be seen .
`` No one knows what this is going to look like ... how social media is replacing the way we campaign , '' Democratic strategist Hank Sheinkopf tells FOX Business .
`` Joe Biden is not used to social media .
... Obviously he 's got to get used to it because if he does n't he could lose the election . ''
A spokesman for the Biden campaign did not respond to request for comment .
Press officials for Sanders and the Trump @ @ @ @ @ @ @ .
For Biden , the virus-related turmoil comes at a crucial time as he seeks to pull away from Sanders and clinch the Democratic nomination .
Biden received a surge in donations following his recent victories in South Carolina and during the Super Tuesday primaries that gave him front-runner status .
Sanders has vowed at least for now to stay in the race .
GET FOX BUSINESS ON THE GO BY CLICKING HERE According to campaign finance records , Biden raised $ 11 million immediately after his South Carolina primary win and $ @ @ @ @ @ @ @ .
The victories helped alleviate some of the campaign 's money woes , but it 's unclear how a ban on actual campaign events and fundraisers may impact his ability to raise money .
CLICK HERE TO READ MORE ON FOX BUSINESS Trump declared a national state of emergency Saturday in response to COVID-19 after states including Washington , California and New York had declared emergencies as well .

Raising campaign money during a deadly virus outbreak will be a challenging task, but Joe Biden thinks he has at least a partial solution: holding "virtual" fundraisers.
The former vice president, who increasingly looks to be the Democratic nominee to face President Trump in November, will begin hosting fundraisers online in response to the coronavirus pandemic, with his first so-called virtual fundraiser on Thursday, a person close to the campaign tells FOX Business.
It's unclear exactly how the campaigns will hold virtual fundraisers. One possibility: using the popular video conferencing service Zoom in which people can interact via their iPhone or their computer. The candidates themselves can log in and answer questions; people can pay for tickets to attend the Zoom town halls where donations are solicited.
One thing is certain: the pandemic has pushed the 2020 presidential campaign into uncharted territory. Campaigns are looking to minimize the risk not only to donors and supporters, but also to candidates themselves.
CORONAVIRUS OUTBREAK UNLIKELY TO CAUSE US RECESSION: MNUCHIN
Biden, is 77 years old, while his remaining Democratic rival, socialist Vermont Sen. Bernie Sanders is 78. Trump is 73, thus putting all of them in the most at-risk demographic for COVID-19's most debilitating effects. Sunday night’s Democratic debate between Biden and Sanders will be held without a live audience, and the candidates will be separated at podiums at a further distance than past debates.
At the same time, as health practices like social distancing begin to alter life in America, candidates are looking for ways to maintain some semblance of a campaign, such as fundraisers and rallies.
HOW BIDEN, SANDERS WOULD COMBAT CORONAVIRUS OUTBREAK
Key primaries in states including Florida, Arizona, Ohio and Illinois are looming, and the cost of ads and staff will remain constant even as traditional social interactions, such as rallies and fundraising events are coming to a standstill.
Biden, for his part, held his first virtual town hall Saturday where the 77-year-old tried to livestream a campaign message to supporters. The stream cut off Biden's opening remarks and lasted less than five minutes; the campaign later apologized to viewers for "technical difficulties."
Whether Biden can use this same technology to rally donors and fund his campaign remains to be seen.
"No one knows what this is going to look like ... how social media is replacing the way we campaign," Democratic strategist Hank Sheinkopf tells FOX Business. "Joe Biden is not used to social media. ... Obviously he's got to get used to it because if he doesn't he could lose the election."
A spokesman for the Biden campaign did not respond to request for comment. Press officials for Sanders and the Trump campaign couldn't be reached for comment.
For Biden, the virus-related turmoil comes at a crucial time as he seeks to pull away from Sanders and clinch the Democratic nomination. Biden received a surge in donations following his recent victories in South Carolina and during the Super Tuesday primaries that gave him front-runner status. Sanders has vowed at least for now to stay in the race.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
According to campaign finance records, Biden raised $11 million immediately after his South Carolina primary win and $7 million following his Super Tuesday victories. The victories helped alleviate some of the campaign's money woes, but it's unclear how a ban on actual campaign events and fundraisers may impact his ability to raise money.
CLICK HERE TO READ MORE ON FOX BUSINESS
Trump declared a national state of emergency Saturday in response to COVID-19 after states including Washington, California and New York had declared emergencies as well.


bonginoreport--2020-03-17--Chinese Propaganda Blaming U.S. for Coronavirus Floods Social Media

Chinese bots have flocked to Twitter since the beginning of the coronavirus public relations effort emanating from Beijing .
In the past few days especially , brand new “ bot ” -like accounts following zero people , and being followed back by no one , have flooded Twitter threads attacking the United States of America , President Trump , and many who believe the Chinese Communist Party ( CCP ) should have to answer tough questions about the COVID-19 coronavirus .
The accounts appear to be flocking to defend Chinese Communist Party state actors such as Lijian Zhao – China @ @ @ @ @ @ @ Director General , and Lin Songtian , China ’ s Ambassador to South Africa .
Thousands of new accounts – many the same attacking the President and the United States – were created in March 2020 and have taken to “ liking ” and “ retweeting ” CCP propagandists such as Zhao and Songtian , including on stories such as : “ COVID-19 : Further Evidence that the Virus Originated in the US ” .
The article links to a conspiracy theory published in an outlet called GlobalResearch.ca , a Canadian-based site which @ @ @ @ @ @ @ bots also promote the website separately .
• Coronavirus Is Becoming a Western Excuse for Sinophobia and “ China-Bashing ” ; • America ’ s “ Hybrid War ” against China has Entered a New Phase ; • Coronavirus COVID-19 : “ Made in China ” or “ Made in America ” ?
The accounts have not been suspended and/or limited by Twitter , and neither CNN , the New York Times , the Washington Post , nor the rest of the political or media establishments in the Western have commented upon the @ @ @ @ @ @ @ the CCP .
One can ’ t help but wonder if this would be the same if Russia were behind the disinformation campaign .

Chinese bots have flocked to Twitter since the beginning of the coronavirus public relations effort emanating from Beijing.
In the past few days especially, brand new “bot”-like accounts following zero people, and being followed back by no one, have flooded Twitter threads attacking the United States of America, President Trump, and many who believe the Chinese Communist Party (CCP) should have to answer tough questions about the COVID-19 coronavirus.
The accounts appear to be flocking to defend Chinese Communist Party state actors such as Lijian Zhao – China’s “Information Department” Deputy Director General, and Lin Songtian, China’s Ambassador to South Africa.
Thousands of new accounts – many the same attacking the President and the United States – were created in March 2020 and have taken to “liking” and “retweeting” CCP propagandists such as Zhao and Songtian, including on stories such as: “COVID-19: Further Evidence that the Virus Originated in the US”.
This article is very much important to each and every one of us. Please read and retweet it. COVID-19: Further Evidence that the Virus Originated in the US. https://t.co/LPanIo40MR — Lijian Zhao 赵立坚 (@zlj517) March 13, 2020
The article links to a conspiracy theory published in an outlet called GlobalResearch.ca, a Canadian-based site which often disseminates anti-Western propaganda. The Chinese bots also promote the website separately.
Other recent articles on ‘Global Research’ include:
Western Anti-Chinese Propaganda Exaggerates Coronavirus Danger, Creates Panic;
Coronavirus Is Becoming a Western Excuse for Sinophobia and “China-Bashing”;
America’s “Hybrid War” against China has Entered a New Phase;
COVID-19 Coronavirus: A Fake Pandemic? Who’s Behind It?;
Coronavirus COVID-19: “Made in China” or “Made in America”?
The accounts have not been suspended and/or limited by Twitter, and neither CNN, the New York Times, the Washington Post, nor the rest of the political or media establishments in the Western have commented upon the surge in social media agitprop pushed by the CCP.
One can’t help but wonder if this would be the same if Russia were behind the disinformation campaign.


bonginoreport--2020-03-16--Stock Futures Surge, Hitting “Limit Up” After Historic Plunge

Stock futures and premarket trading in exchange-traded funds pointed to a bounce on Tuesday following the Dow Jones Industrial average 's third-worst day ever .
Trading overnight , however , was very volatile with futures giving back more than 1,000 points as investors try to weigh the uncertain economic impact of the coronavirus outbreak .
Around 6:45 a.m .
ET , Dow Jones Industrial Average futures indicated an implied open of more than 400 points .
The S & P 500 SPDR ETF gained more than 2 % in premarket trading .
Earlier in the session , futures contracts tied @ @ @ @ @ @ @ Dow Jones Industrial Average and Nasdaq 100 hit their upside limit , triggering an upside halt .
In non-U.S. trading hours , stock futures are halted if they hit their downside or upside limits , pinning those contracts to their upper or lower bounds .
The halt is meant to ensure that trading is orderly and not emotional .
Overnight futures are the latest market to see eye-popping volatility as computer trading runs wild on Wall Street during the coronavirus market collapse .
Those wild moves came after President Donald Trump tweeted : @ @ @ @ @ @ @ supporting those industries , like Airlines and others , that are particularly affected by the Chinese Virus .
We will be stronger than ever before ! ''
The Dow Jones Industrial Average and S & P 500 had their worst day since the `` Black Monday '' crash of 1987 , falling 12.9 % and 12 % , respectively .
It was also the Dow 's third-worst day ever .
The Nasdaq Composite had its biggest one-day plunge ever , tumbling 12.3 % .

Mnuchin added corporations will be able to defer tax payments of up to $10 million while individuals could defer up to $1 million in payments to the Internal Revenue Service. Mnuchin also said President Donald Trump authorized the deferral of $300 billion in IRS payments.
The Trump administration is weighing a fiscal stimulus package of more than $1 trillion that includes direct payments to Americans, according to a source familiar with the matter. Earlier, Treasury Secretary Steven Mnuchin told reporters the government is considering directly sending checks to Americans in the next two weeks. " Americans need cash now ," he said.
The Dow Jones Industrial Average closed 1,048.79 points higher, or 5.2%, at 21,237.31. It briefly dipped below 20,000 for the first time since February 2017 before rebounding. The S&P 500 was up 6% at 2,529.19 while the Nasdaq Composite gained 6.2% to end the day at 7,334.78.
Stocks surged Tuesday — rebounding from their worst day in more than three decades — as Wall Street cheered White House plans that could inject $1 trillion into the U.S. economy to cushion the blow of the coronavirus.
Steven Mnuchin, U.S. Treasury secretary, right, speaks beside U.S. President Donald Trump during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Tuesday, March 17, 2020.
"We know there's going to be monetary policy. We know there's going to be fiscal policy and we're hearing more about that. That's two legs of the stool," said Art Hogan, chief market strategist at National Securities. "The federal health care policy response, that's another one. I still think the information on that needs to get better."
"We've done a lot of recalibration of equity values, all based on an assumption of how much economic damage is done, but we won't know exactly how much damage for a period of time," said Hogan. "One thing I'm sure of is the markets will have found a bottom long before the news starts to get better."
Treasury yields jumped, with the 10-year U.S. rate breaking back above 1% on news of the big stimulus plan. Yields move inversely to prices. The iShares 20+Year Treasury Bond ETF (TLT ) dropped more than 6% as investors fled bonds for stocks.
The Federal Reserve announced measures to help companies struggling to get short-term funding amid the outbreak. The market has been hampered by a lack of demand for paper issued, and Wall Street has been looking for central bank intervention along the lines of what happened during the financial crisis.
Amazon shares jumped 7% after an analyst at Bank of America noted the e-commerce giant will benefit from the global "in-home shift" due to the coronavirus. Netflix climbed 7% as well while Apple closed 4.3% higher.
Biotech giant Regeneron , meanwhile, said Tuesday morning that it's aiming to have doses of a potential drug for COVID-19 ready to start human clinical trials by early summer. The announcement, which represents a marked acceleration in the company's drug timeline, sparked a 11.5% rally in the company's equity.
More than 5,700 cases have been confirmed in the U.S. along with more than 90 deaths, according to data from Johns Hopkins University. President Donald Trump also said the crisis could stretch into August, adding the administration may look at locking down "certain areas."
The Dow and S&P 500 had on Monday their biggest one-day losses since 1987, falling 12.9% and 12%, respectively. It was also the Dow's third-worst day ever. The Nasdaq Composite had its biggest one-day plunge ever, tumbling 12.3%.
"Yesterday was a real washout," said Peter Cardillo, chief market economist at Spartan Capital Securities. "I think we'll have a recession. It's just a question of how steep it will be."
The Cboe Volatility Index (VIX) — Wall Street's preferred fear gauge — posted its highest-ever close at 82.69. That tops the financial crisis' peak of 80.74. On Tuesday, the VIX traded down 9.2 points at 73.2.
—CNBC's Thomas Franck and Eustance Huang contributed to this report.
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bonginoreport--2020-03-17--Coronavirus Cases Reported in All Fifty States

West Virginia Gov .
Jim Justice confirmed Tuesday evening that his state has its first confirmed case of coronavirus , @ @ @ @ @ have a confirmed case .
During his announcement on Tuesday , Justice added that he @ @ @ @ @ casinos , dine-in restaurants and bars to close .
In the United States , there @ @ @ @ @ cases , with 97 of them fatal , according to Johns Hopkins University data .

West Virginia Gov. Jim Justice confirmed Tuesday evening that his state has its first confirmed case of coronavirus, marking the 50th state to have a confirmed case.
During his announcement on Tuesday, Justice added that he is ordering the state's casinos, dine-in restaurants and bars to close.
In the United States, there have been nearly 6,000 confirmed cases, with 97 of them fatal, according to Johns Hopkins University data.


bonginoreport--2020-03-17--IRS Delays Tax Deadline by 90 Days

IRS Delays Tax Deadline by 90 Days

U.S. President Donald Trump speaks while flanked by Secretary of the Treasury Steven Mnuchin ( R ) during a briefing @ @ @ @ @ press briefing room at the White House on March 17 , 2020 in Washington , @ @ @ @ @ a three-month reprieve to pay the income taxes they owe for 2019 , Treasury Secretary @ @ @ @ @ at a news conference .
As part of its coronavirus response , the federal government @ @ @ @ @ to pay income taxes due on up to $ 1 million in tax owed , @ @ @ @ @ The reprieve on that amount would cover many pass-through entities and small businesses , he @ @ @ @ @ get the same length of time to pay amounts due on up to $ 10 @ @ @ @ @ Mnuchin said .
During that three-month deferral period , taxpayers wo n't be subject to @ @ @ @ @ said .
You should still get your 2019 income tax return in to the federal @ @ @ @ @ , especially if you 're due a refund and need cash .

U.S. President Donald Trump speaks while flanked by Secretary of the Treasury Steven Mnuchin (R) during a briefing about the coronavirus in the press briefing room at the White House on March 17, 2020 in Washington, DC.
Taxpayers will get a three-month reprieve to pay the income taxes they owe for 2019, Treasury Secretary Steven Mnuchin said on Tuesday at a news conference.
As part of its coronavirus response, the federal government will give filers 90 days to pay income taxes due on up to $1 million in tax owed, Mnuchin said in Washington. The reprieve on that amount would cover many pass-through entities and small businesses, he said.
Corporate filers would get the same length of time to pay amounts due on up to $10 million in taxes owed, Mnuchin said.
During that three-month deferral period, taxpayers won't be subject to interest and penalties, he said.
You should still get your 2019 income tax return in to the federal government as soon as possible, especially if you're due a refund and need cash.


bonginoreport--2020-03-17--Biden Falsely Claims U.S. Refused Coronavirus Tests From WHO

PolitiFact slaps Joe Biden with ‘ mostly false ’ rating for claiming that the US ‘ refused ’ WHO coronavirus @ @ @ @ @ WHO and CDC about WHO providing COVID-19 tests to the United States '

Left-leaning fact-checking website PolitiFact called out Democratic presidential candidate and former Vice President Joe Biden with a "mostly false" rating over a recent claim that the United States "refused" to accept coronavirus testing kits offered by the World Health Organization.
Biden made the claim during Sunday night's Democratic presidential primary debate against Sen. Bernie Sanders (I-Vt.) in response to a question about President Donald Trump's handling of the current coronavirus outbreak.
"President Trump says he does not take any responsibility for the problems with coronavirus testing, in part because he says he inherited so many rules, regulations, and red tape," debate moderator Jake Tapper said to the former vice president, according to a Rev transcript. "Did bureaucratic red tape hamper this response in any way?"
"No; look, the World Health Organization offered, offered the testing kits that they have available and to give it to us now," Biden responded.
"We refused them. We did not want to buy them. We did not want to get them from them. We wanted to make sure we had our own," Biden continued. "I think [Trump] said something like, 'We have the best scientists in America,' or something to that effect."
When PolitiFact reached out to the Biden campaign on the claim, the fact-checker says the campaign pointed to a story published earlier this month at Politico, which said that the U.S wasn't among the 60 countries to which the WHO had sent tests by the end of February:
Why the United States declined to use the WHO test, even temporarily as a bridge until the Centers for Disease Control and Prevention could produce its own test, remains a perplexing question and the key to the Trump administration's failure to provide enough tests to identify the coronavirus infections before they could be passed on, according to POLITICO interviews with dozens of viral-disease experts, former officials and some officials within the administration's health agencies.
However, PolitiFact wrote in a post Monday that the countries helped by the WHO were ones that lacked the same kind of virology lab capabilities that the United States has, and cited work done by the Pan American Health Organization as an example:
The group is WHO's arm in the Americas. It conducted trainings and sent materials to conduct tests to 29 nations. The list included Paraguay, Bolivia, Argentina, Chile, Belize, Costa Rica, El Salvador, Honduras, Nicaragua, and many others.
The group said it focused most of its efforts on "countries with the weakest health systems."
"No discussions occurred between WHO and CDC about WHO providing COVID-19 tests to the United States," said WHO spokeswoman Margaret Harris. "This is consistent with experience since the United States does not ordinarily rely on WHO for reagents or diagnostic tests because of sufficient domestic capacity."
The post goes on to explain that Biden's comments leave out context about how different countries chose which kind of test to use, based on multiple different models. Even if the United States had adopted the same testing model of the World Health Organization preferred — which it didn't — the country wouldn't have needed the WHO to send supplies.
While the U.S. didn't try to employ the WHO test model, "Biden's emphasis on WHO offering kits is simply wrong," PolitiFact concludes. "We rate this claim mostly false."


bonginoreport--2020-03-17--FDA Boosts Coronavirus Testing Capacity, Approves New Tests

In response to a dire shortage of tests for detecting the fast-moving coronavirus , the Food and Drug Administration is giving states new powers to authorize laboratories to develop their own diagnostic .
And the FDA also approved new tests that will be distributed by LabCorp ( LH ) and Hologic ( HOLX ) , two of the largest manufacturers .
The agency will allow states to take responsibility for tests developed and used by laboratories within their borders , a step that is similar to what the FDA last week granted to the New York State Department of Health @ @ @ @ @ @ @ pursue Emergency Use Authorization from the agency , an emergency clearance that is normally required .
The FDA also announced two other moves .
Under certain circumstances , the agency will not object to any manufacturers that distribute newly developed tests before the FDA grants emergency clearance , and a similar stance will be taken toward labs that use these new tests .
Finally , the agency is issuing new recommendations for companies that want to develop blood tests for measuring antibodies .
“ The policy is intended to achieve a balance between @ @ @ @ @ @ @ rigor , ” Commissioner Stephen Hahn told the media during a briefing Monday night .
“ … We believe this will [ create ] a surge to meet the demand we expect to see , although it is somewhat difficult to quantify ” the number of tests that will become available .
The moves come as the Trump administration has been heavily criticized for failing to anticipate the advent of the novel coronavirus , known as Covid-19 , earlier this year and for not putting in place the testing needed to detect its @ @ @ @ @ @ @ , the White House has been on the defensive , scrambling to find ways to compensate by getting much-needed tests to public health officials .
Currently , the U.S. has capacity to run just 175,000 tests a week , according to an effort to track that capacity run by former FDA Commissioner Scott Gottlieb at the American Enterprise Institute .
Even if those additional tests come online all at once , patients may not be able to get them .
The FDA attempted to close the gap last week by approving tests by @ @ @ @ @ @ @ far , more than 4,000 cases of Covid-19 have been confirmed in the U.S. , according to a tally by the Johns Hopkins University Center for Systems Science and Engineering .
Accurate testing is critical to stopping the outbreak and the states have been clamoring for additional tests .
Administration officials described the moves as a necessary trade-off , despite any risks .
For instance , the FDA acknowledged there may be snafus — such as problems with validation data — with tests that are allowed on the market before obtaining emergency clearance @ @ @ @ @ @ @ to rectify any deficiencies and , if need be , recall the test .

In response to a dire shortage of tests for detecting the fast-moving coronavirus, the Food and Drug Administration is giving states new powers to authorize laboratories to develop their own diagnostic. And the FDA also approved new tests that will be distributed by LabCorp (LH) and Hologic (HOLX), two of the largest manufacturers.
The agency will allow states to take responsibility for tests developed and used by laboratories within their borders, a step that is similar to what the FDA last week granted to the New York State Department of Health. The labs will not have to pursue Emergency Use Authorization from the agency, an emergency clearance that is normally required.
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The FDA also announced two other moves. Under certain circumstances, the agency will not object to any manufacturers that distribute newly developed tests before the FDA grants emergency clearance, and a similar stance will be taken toward labs that use these new tests. Finally, the agency is issuing new recommendations for companies that want to develop blood tests for measuring antibodies.
“The policy is intended to achieve a balance between providing regulatory flexibility while allowing for scientific rigor,” Commissioner Stephen Hahn told the media during a briefing Monday night. “… We believe this will [create] a surge to meet the demand we expect to see, although it is somewhat difficult to quantify” the number of tests that will become available.
The moves come as the Trump administration has been heavily criticized for failing to anticipate the advent of the novel coronavirus, known as Covid-19, earlier this year and for not putting in place the testing needed to detect its spread around the U.S. Ever since, the White House has been on the defensive, scrambling to find ways to compensate by getting much-needed tests to public health officials.
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Currently, the U.S. has capacity to run just 175,000 tests a week, according to an effort to track that capacity run by former FDA Commissioner Scott Gottlieb at the American Enterprise Institute. Even if those additional tests come online all at once, patients may not be able to get them. The FDA attempted to close the gap last week by approving tests by Roche Diagnostics and Thermo Fisher.
So far, more than 4,000 cases of Covid-19 have been confirmed in the U.S., according to a tally by the Johns Hopkins University Center for Systems Science and Engineering. Accurate testing is critical to stopping the outbreak and the states have been clamoring for additional tests.
Administration officials described the moves as a necessary trade-off, despite any risks. For instance, the FDA acknowledged there may be snafus — such as problems with validation data — with tests that are allowed on the market before obtaining emergency clearance. The agency would work with manufacturers to rectify any deficiencies and, if need be, recall the test.


bonginoreport--2020-03-17--AOC Upset Republicans Won’t Politicize Coronavirus the Way She Wants

New York Rep. Alexandria Ocasio-Cortez said President Trump was leveraging the coronavirus pandemic to give top companies a bailout instead of prioritizing policies for the working class .
The freshman Democrat slammed the economic details of a payroll tax that was included in a tweet shared by Fox News 's John Roberts on Tuesday morning .
`` This is unacceptable , '' Ocasio-Cortez tweeted .
`` Trump is using this public health crisis as an opportunity to push tax cuts and corporate bailouts . ''
The tweet from Roberts noted the economic stimulus package Trump plans to ask of Congress @ @ @ @ @ @ @ in payroll tax cuts , $ 58 billion for the airline industry , and $ 250 billion in Small Business Association loans .
On Tuesday , Treasury Secretary Steven Mnuchin said Trump wanted to send checks to workers as part of a huge bailout package .
`` The payroll tax holiday would get people money over the next six to eight months , '' Mnuchin said at a White House news briefing on the coronavirus .
`` We 're looking at sending checks to Americans immediately . ''
Mnuchin also said the Treasury @ @ @ @ @ @ @ billion in tax deferrals to combat the coronavirus pandemic , a major increase from what was previously announced .
He said that individuals could defer up to $ 1 million and corporations could defer $ 10 million in tax payments to the federal government without being charged for penalties and interest .
The delay in filing and paying taxes will be for 90 days .
Ocasio-Cortez argued the measures do not adequately lift workers , many of whom are worried about their financial situation during the national emergency .
`` This is an @ @ @ @ @ @ @ .
`` We need to help vulnerable people & small biz now w/ paid leave , extended unemployment , [ universal basic income ] , Medicaid expansion , & mortgage suspensions . ''
There have been around 190,000 confirmed coronavirus cases around the world , 80,600 recoveries , and 7,500 deaths , according to the latest reading by the Johns Hopkins University tracker .
In the United States , there have been 5,600 cases , 17 recoveries , and 94 deaths .

New York Rep. Alexandria Ocasio-Cortez said President Trump was leveraging the coronavirus pandemic to give top companies a bailout instead of prioritizing policies for the working class.
The freshman Democrat slammed the economic details of a payroll tax that was included in a tweet shared by Fox News's John Roberts on Tuesday morning.
"This is unacceptable," Ocasio-Cortez tweeted. "Trump is using this public health crisis as an opportunity to push tax cuts and corporate bailouts."
[Click here for complete coronavirus coverage]
This is unacceptable.
Trump is using this public health crisis as an opportunity to push tax cuts and corporate bailouts.
This is an emergency. We need to help vulnerable people & small biz now w/ paid leave, extended unemployment, UBI, Medicaid expansion,&mortgage suspensions. https://t.co/kOAK3sTFdK — Alexandria Ocasio-Cortez (@AOC) March 17, 2020
The tweet from Roberts noted the economic stimulus package Trump plans to ask of Congress next week, including $500 billion in payroll tax cuts, $58 billion for the airline industry, and $250 billion in Small Business Association loans.
On Tuesday, Treasury Secretary Steven Mnuchin said Trump wanted to send checks to workers as part of a huge bailout package.
"The payroll tax holiday would get people money over the next six to eight months," Mnuchin said at a White House news briefing on the coronavirus. "We're looking at sending checks to Americans immediately."
Mnuchin also said the Treasury Department would aim to allow $300 billion in tax deferrals to combat the coronavirus pandemic, a major increase from what was previously announced. He said that individuals could defer up to $1 million and corporations could defer $10 million in tax payments to the federal government without being charged for penalties and interest. The delay in filing and paying taxes will be for 90 days.
Ocasio-Cortez argued the measures do not adequately lift workers, many of whom are worried about their financial situation during the national emergency.
"This is an emergency," the liberal Democrat tweeted. "We need to help vulnerable people & small biz now w/ paid leave, extended unemployment, [universal basic income], Medicaid expansion, & mortgage suspensions."
There have been around 190,000 confirmed coronavirus cases around the world, 80,600 recoveries, and 7,500 deaths, according to the latest reading by the Johns Hopkins University tracker. In the United States, there have been 5,600 cases, 17 recoveries, and 94 deaths.


bonginoreport--2020-03-17--Nearly 80% Support “Immigration Halt” When Poll Question Doesn’t Mention Trump

Voters like the idea of making legal immigrants pay their own way , and they are also keen on letting people sue sanctuary cities for crimes committed by illegal immigrants — both parts of President Trump ’ s immigration agenda — according to surprising polling numbers from Harvard University .
Nearly four in five voters like the idea of an “ immigration halt ” with the coronavirus becoming a pandemic .
Less popular is the move by a number of Democrat-led states such as New York to issue driver ’ s licenses to illegal immigrants .
Only about one-third of @ @ @ @ @ @ @ without authorization should be allowed to apply for a license .
The results of the Harvard Center for American Political Studies/Harris Poll suggest that Mr. Trump ’ s immigration policies have strong backing among the public at large , even though they are derided as racist or unfair in Washington and among Democratic leaders .
“ This should definitely be a warning , especially to Biden because he ’ s going to be the nominee , that going too far left is a real danger for him , ” said Mark Krikorian , @ @ @ @ @ @ @ Studies .
“ I ’ m not even sure what he was thinking last night .
He ’ s got the nomination .
Why cater to the most radical anti-borders elements in his party ?
” Former Vice President Joseph R. Biden , in a debate Sunday with Sen. Bernard Sanders , his chief opponent for the Democratic presidential nomination , proposed shutting down all deportations for 100 days and then deporting only illegal immigrants with further felonies on their records .
He also said he will cancel immigration detention for people awaiting @ @ @ @ @ @ @ House .
He flatly said local police should not cooperate in turning over illegal immigrants to federal immigration authorities .
“ Xenophobia is a disease , ” said Mr. Biden , condemning what he called “ this demonization and divisiveness coming from the Trump administration on immigration.
” The Harvard/Harris poll found immigration policy to be the second most important issue for voters , behind health care and ahead of terrorism and national security .
When it comes to Mr. Trump , 49 % said they approved of the president ’ s handling @ @ @ @ @ @ @ high range of the past few years , with Harvard/Harris showing approval hovering between 44 % and 49 % .
During his State of the Union address this year , Mr. Trump called for punishing sanctuary cities that refuse to cooperate with federal officials by allowing people victimized by illegal immigrants to sue the sanctuaries for damages .
That idea earns 55 % support , according to Harvard/Harris , though the pollsters asked the question without mentioning that Mr. Trump supports it .
The same was true with a question on whether the @ @ @ @ @ @ @ who are likely to end up on the public dole .
The Trump administration this year implemented a rule to do just that , and the Harvard/Harris poll said 60 % support it — again , without Mr. Trump ’ s name attached to it .
Immigrant rights activists have labeled that policy racist .
They say it will hinder poor migrants from developing nations in Africa trying to achieve the American dream and reward those from richer nations in Europe .
Mr. Krikorian said asking without the president ’ s name meant @ @ @ @ @ @ @ ’ views without any Trump bias .
He said there are probably people who would be hawkish on immigration , such as opposing sanctuary cities , though they dislike Mr. Trump .
If told the president backed a crackdown , they might have a different answer to the polling question .
“ Because Trump ’ s name isn ’ t on there , people were giving answers based on what they actually thought policy should be rather than what is associated with the president , ” he said .
The Washington Times reached @ @ @ @ @ @ @ the numbers .
They either didn ’ t respond or declined to tackle the questions .
Mr. Trump has tied immigration to the COVID-19 coronavirus crisis , and the polling suggests Americans agree .
A stunning 79 % told the pollsters that an “ immigration halt ” should be imposed if the outbreak grows into a pandemic .
On the other side of the ledger , voters resoundingly rejected the idea of issuing driver ’ s licenses to illegal immigrants , with 65 % opposed and just 35 % in favor .
Immigration @ @ @ @ @ @ @ the roads anyway , and it makes more sense to license them and require them to have insurance .
Fourteen states plus the District of Columbia have moved to grant licenses to those in the country without authorization , according to the National Council of State Legislatures .
New York became the latest to offer licenses in December with its Green Light law .
New Jersey will become the 15th state when its law takes effect in June .

Voters like the idea of making legal immigrants pay their own way, and they are also keen on letting people sue sanctuary cities for crimes committed by illegal immigrants — both parts of President Trump’s immigration agenda — according to surprising polling numbers from Harvard University.
Nearly four in five voters like the idea of an “immigration halt” with the coronavirus becoming a pandemic.
Less popular is the move by a number of Democrat-led states such as New York to issue driver’s licenses to illegal immigrants. Only about one-third of voters polled said people in the country without authorization should be allowed to apply for a license.
The results of the Harvard Center for American Political Studies/Harris Poll suggest that Mr. Trump’s immigration policies have strong backing among the public at large, even though they are derided as racist or unfair in Washington and among Democratic leaders.
“This should definitely be a warning, especially to Biden because he’s going to be the nominee, that going too far left is a real danger for him,” said Mark Krikorian, executive director at the Center for Immigration Studies. “I’m not even sure what he was thinking last night. He’s got the nomination. Why cater to the most radical anti-borders elements in his party?”
Former Vice President Joseph R. Biden, in a debate Sunday with Sen. Bernard Sanders, his chief opponent for the Democratic presidential nomination, proposed shutting down all deportations for 100 days and then deporting only illegal immigrants with further felonies on their records.
He also said he will cancel immigration detention for people awaiting court hearings if he wins the White House.
He flatly said local police should not cooperate in turning over illegal immigrants to federal immigration authorities.
“Xenophobia is a disease,” said Mr. Biden, condemning what he called “this demonization and divisiveness coming from the Trump administration on immigration.”
The Harvard/Harris poll found immigration policy to be the second most important issue for voters, behind health care and ahead of terrorism and national security.
When it comes to Mr. Trump, 49% said they approved of the president’s handling of immigration. That is at the high range of the past few years, with Harvard/Harris showing approval hovering between 44% and 49%.
During his State of the Union address this year, Mr. Trump called for punishing sanctuary cities that refuse to cooperate with federal officials by allowing people victimized by illegal immigrants to sue the sanctuaries for damages.
That idea earns 55% support, according to Harvard/Harris, though the pollsters asked the question without mentioning that Mr. Trump supports it.
The same was true with a question on whether the government should deny green cards to immigrants who are likely to end up on the public dole. The Trump administration this year implemented a rule to do just that, and the Harvard/Harris poll said 60% support it — again, without Mr. Trump’s name attached to it.
Immigrant rights activists have labeled that policy racist. They say it will hinder poor migrants from developing nations in Africa trying to achieve the American dream and reward those from richer nations in Europe.
Mr. Krikorian said asking without the president’s name meant the pollsters were able to find Americans’ views without any Trump bias.
He said there are probably people who would be hawkish on immigration, such as opposing sanctuary cities, though they dislike Mr. Trump. If told the president backed a crackdown, they might have a different answer to the polling question.
“Because Trump’s name isn’t on there, people were giving answers based on what they actually thought policy should be rather than what is associated with the president,” he said.
The Washington Times reached out to several immigrant rights activists about the numbers. They either didn’t respond or declined to tackle the questions.
Mr. Trump has tied immigration to the COVID-19 coronavirus crisis, and the polling suggests Americans agree. A stunning 79% told the pollsters that an “immigration halt” should be imposed if the outbreak grows into a pandemic.
On the other side of the ledger, voters resoundingly rejected the idea of issuing driver’s licenses to illegal immigrants, with 65% opposed and just 35% in favor.
Immigration activists argue that illegal immigrants are on the roads anyway, and it makes more sense to license them and require them to have insurance. Fourteen states plus the District of Columbia have moved to grant licenses to those in the country without authorization, according to the National Council of State Legislatures.
New York became the latest to offer licenses in December with its Green Light law. New Jersey will become the 15th state when its law takes effect in June.
• Stephen Dinan can be reached at sdinan@washingtontimes.com.


bonginoreport--2020-03-17--The Disaster of Bidenomics

The Disaster of Bidenomics

During Sunday night 's debate with Sen. Bernie Sanders , former Vice President Joe Biden promised to wreck the American energy industry .
That would wreck the American economy .
The Houston Chronicle reports : After Sanders pressed ahead on his pledge to ban hydraulic fracturing across the United States in a bid to address climate change , Biden uttered the words , `` no new fracking . ''
But it was unclear if he was joining with Sanders or simply restating his own plan to ban new oil and gas drilling on federal lands , something that he and @ @ @ @ @ @ @ City Mayor Mike Bloomberg pledged - as his campaign said after the debate .
By all means , we should talk about this , because it 's nuts .
What powers the high-speed rail ?
Does it run on hope and change ?
As a contagious virus spreads across the world , shutting down whole economies in its wake , Biden wants to force us all onto trains and remove our ability to move around independently of a mass-transit system .
That 's nuts .
Deadly stupid .
Those trains would be viral @ @ @ @ @ @ @ the entire U.S. military vehicle fleet to ... what , exactly , since he wo n't allow fracking or any new drilling ?
You ca n't power a tank on love and rainbows .
You ca n't get a helicopter in the air on its own wind power .
The physics do n't work .
Teslas are cool and all , but you still have to burn something to power them .
The only question is where you 're burning it .
The batteries require chemicals that someone has to take out of @ @ @ @ @ @ @ , toxic chemicals and also requires energy .
No more mining either ?
Biden 's immoderate proposal would do several things , none of them good at all .
Prior to the coronavirus outbreak from China , the economy was humming along thanks a great deal to the affordability of energy .
That 's powered by the unprecedented amount of oil and natural gas production in the Permian in New Mexico and Texas .
Fracking is one of the key means of producing oil and gas in the U.S. Fracking is safe and @ @ @ @ @ @ @ energy extraction techniques for about 50 years .
Ban fracking , and hundreds of years worth of energy we know are under the ground will stay there .
But we still need energy , so we 'll have to buy it from the Middle East and Russia .
Hundreds of thousands of Americans would be out of work across several states .
Governments in those states would be grappling with the effects of widespread unemployment and severely reduced revenues at the same time , both tax revenues from oil production and from the @ @ @ @ @ @ @ to those jobless thousands .
Biden may as well promise famine and pestilence while he 's at it .
Well , famine .
We already have a pestilence on the scene .
The hard , cold fact is both of the remaining Democratic presidential candidates have said enough .
They would : Keep the borders wide open in a time of global pandemic , crush American energy production , tax the you-know-what out of job creators , and thereby destroy what 's left of our economy .

During Sunday night’s debate with Sen. Bernie Sanders, former Vice President Joe Biden promised to wreck the American energy industry. That would wreck the American economy. The Houston Chronicle reports:
After Sanders pressed ahead on his pledge to ban hydraulic fracturing across the United States in a bid to address climate change, Biden uttered the words, “no new fracking.” But it was unclear if he was joining with Sanders or simply restating his own plan to ban new oil and gas drilling on federal lands, something that he and other Democratic candidates like former New York City Mayor Mike Bloomberg pledged – as his campaign said after the debate.
Biden added:
We should be talking about things I’ve been talking a bout for years, like high speed rail, taking millions of automobiles off the road, making sure that we move in a direction where no more, no more drilling on federal lands, making sure that we invest in changing the entire fleet of the U.S. military.
By all means, we should talk about this, because it’s nuts. What powers the high-speed rail? Does it run on hope and change? As a contagious virus spreads across the world, shutting down whole economies in its wake, Biden wants to force us all onto trains and remove our ability to move around independently of a mass-transit system. That’s nuts. Deadly stupid. Those trains would be viral hotboxes. He wants to change over the entire U.S. military vehicle fleet to…what, exactly, since he won’t allow fracking or any new drilling?
Biden added:
“No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period. Ends.”
You can’t power a tank on love and rainbows. You can’t get a helicopter in the air on its own wind power. The physics don’t work. Teslas are cool and all, but you still have to burn something to power them. The only question is where you’re burning it. The batteries require chemicals that someone has to take out of the ground, which produces big holes, toxic chemicals and also requires energy. No more mining either?
Biden’s immoderate proposal would do several things, none of them good at all. Prior to the coronavirus outbreak from China, the economy was humming along thanks a great deal to the affordability of energy. That’s powered by the unprecedented amount of oil and natural gas production in the Permian in New Mexico and Texas. Fracking is one of the key means of producing oil and gas in the U.S. Fracking is safe and has been a major part of our energy extraction techniques for about 50 years. Ban fracking, and hundreds of years worth of energy we know are under the ground will stay there. But we still need energy, so we’ll have to buy it from the Middle East and Russia. Hundreds of thousands of Americans would be out of work across several states. Governments in those states would be grappling with the effects of widespread unemployment and severely reduced revenues at the same time, both tax revenues from oil production and from the salaries that are no longer being paid to those jobless thousands.
Biden may as well promise famine and pestilence while he’s at it. Well, famine. We already have a pestilence on the scene.
The hard, cold fact is both of the remaining Democratic presidential candidates have said enough. They would: Keep the borders wide open in a time of global pandemic, crush American energy production, tax the you-know-what out of job creators, and thereby destroy what’s left of our economy.


bonginoreport--2020-03-17--More MSNBC Math: Host Argues We Can Afford $94 Trillion Green New Deal Because of Proposed $850 Bill

More MSNBC Math: Host Argues We Can Afford $94 Trillion Green New Deal Because of Proposed $850 Billion Stimulus

MSNBC anchor Chris Hayes cited a potential $ 800 billion in proposed economic stimulus money as proof the United States could afford a Green New Deal that would cost tens of trillions of dollars .
`` BREAKING : We can , of course , afford a Green New Deal .
That 's been true all along , '' Hayes tweeted , linking to a report that President Donald Trump will ask Congress for an $ 800 billion stimulus package to respond to the coronavirus .
What would constitute a Green New Deal varies among Democratic politicians and pundits , but @ @ @ @ @ @ @ of legislation for combating climate change .
A version floated by Rep. Alexandria Ocasio-Cortez ( D. , N.Y. ) and Sen. Ed Markey ( D. , Mass . )
last year carried one estimated price tag of $ 94 trillion and called for an `` economic transformation , '' a complete overhaul of transportation systems , and retrofitting every building in the United States .
In comparison , an $ 800 billion economic stimulus would account for 0.85 percent of the cost of Ocasio-Cortez and Markey 's proposed legislation .
Various Democratic presidential @ @ @ @ @ @ @ the Green New Deal .
Sen. Bernie Sanders ( I. , Vt. ) went on Hayes 's show in August to discuss his Green New Deal , which calls for $ 16.3 trillion in spending to move the United States to 100 percent renewable energy by 2030 and completely decarbonize by 2050 .
Primary rival Joe Biden 's plan would cost $ 1.7 trillion .
MSNBC was the home of another recent misadventure in math .
On March 5 , the 11th Hour with Brian Williams aired a tweet claiming former Democratic candidate @ @ @ @ @ @ @ campaign spending could have provided every American with $ 1 million apiece .
In reality , he could have given them less than two dollars each , but anchor Brian Williams and New York Times editorial board member Mara Gay marveled at the false statistic .
`` It 's an incredible way of putting it , '' Gay said .
`` It 's true .
It 's disturbing . ''

MSNBC anchor Chris Hayes cited a potential $800 billion in proposed economic stimulus money as proof the United States could afford a Green New Deal that would cost tens of trillions of dollars.
"BREAKING: We can, of course, afford a Green New Deal. That's been true all along," Hayes tweeted, linking to a report that President Donald Trump will ask Congress for an $800 billion stimulus package to respond to the coronavirus.
BREAKING: We can, of course, afford a Green New Deal. That’s been true all along. https://t.co/NRsOLF87H1 — Chris Hayes (@chrislhayes) March 17, 2020
What would constitute a Green New Deal varies among Democratic politicians and pundits, but it generally refers to a proposed package of legislation for combating climate change. A version floated by Rep. Alexandria Ocasio-Cortez (D., N.Y.) and Sen. Ed Markey (D., Mass.) last year carried one estimated price tag of $94 trillion and called for an "economic transformation," a complete overhaul of transportation systems, and retrofitting every building in the United States. In comparison, an $800 billion economic stimulus would account for 0.85 percent of the cost of Ocasio-Cortez and Markey's proposed legislation.
Various Democratic presidential candidates have proposed their own version of the Green New Deal. Sen. Bernie Sanders (I., Vt.) went on Hayes's show in August to discuss his Green New Deal, which calls for $16.3 trillion in spending to move the United States to 100 percent renewable energy by 2030 and completely decarbonize by 2050. Primary rival Joe Biden's plan would cost $1.7 trillion.
MSNBC was the home of another recent misadventure in math.
On March 5, the 11th Hour with Brian Williams aired a tweet claiming former Democratic candidate Michael Bloomberg's $500 million in campaign spending could have provided every American with $1 million apiece. In reality, he could have given them less than two dollars each, but anchor Brian Williams and New York Times editorial board member Mara Gay marveled at the false statistic.
"It's an incredible way of putting it," Gay said. "It's true. It's disturbing."


bonginoreport--2020-03-17--Hell Freezes as CNN Reports Something Positive About Trump

In a rare reflection of his administration ’ s 24/7 war on the coronavirus , President Trump Tuesday took a bit of blame for his bad press — and CNN immediately rewarded him for that .
At the end of his wide open and lengthy press conference today , he praised his team and efforts to quell the spread of the virus but admitted to failing in getting the media to acknowledge any of that .
“ We ’ ve done a fantastic job .
The only thing we haven ’ t done well is to get good press , @ @ @ @ @ @ @ criticized a skewed New York Times report of one of his actions but generally pulled his punches against the media .
“ We ’ ve done a fantastic job but it hasn ’ t been appreciated , ” he said .
Conservative media critics say he ’ s exactly right .
For example , his first move in closing borders to people from China , where the Wuhan virus began , was panned as “ racist ” in the media .
Trump referred to that when he said , “ Even the closing @ @ @ @ @ @ @ never been done , and not only did we close them , we closed them early .
The press doesn ’ t like writing about it.
” But rather than ranting about it , he said , “ So we ’ ve done a poor job on press relationships .
I don ’ t know who to blame for that .
Maybe I can blame ourselves , so that I will blame ourselves , but I think we ’ ve done a good job .
I think we ’ ve done a poor @ @ @ @ @ @ @ CNN ’ s Dana Bash , reviewing Trump ’ s calm and authoritative press conference , said it was exactly what the nation needs .
“ If you look at the big picture , this was remarkable from the president of the United States .
This is a nonpartisan , this is an important thing to note and to applaud from an American standpoint , from a human standpoint , he 's being the kind of leader that people need , at least in tone , today , and yesterday in tone that @ @ @ @ @ @ @ in times of crisis and uncertainty , ” she said .
Bash added , “ Big picture , the fact that the president has been convinced to be different whether it is Chris Christie was out there asking him to do it , whether it was Newt Gingrich sitting in Italy watching firsthand of what 's happening or his friends at Fox News have changed their tone .
Probably all the above of what 's happening .
But it is important to hear him strike that tone of calm and of understanding of @ @ @ @ @ @ @ fact that he even said on the notion of people going out , somebody asked about well , what about people of all generations going out when they should not .
And he said that they shouldn ’ t and they 're actually performing self-policing .
It is peer pressure , that they are telling people not to do it .
That 's pretty incredible from a guy who a couple of days ago was trying to downplay it and keep the economy is going.
” But Brent Bozell , founder and president @ @ @ @ @ @ @ no matter what Trump does , he will never get the media rally that other presidents in crisis mode have .
`` During a time of national crisis , the American people , along with the national media , tend to rally around the president .
There 's no better example than 9/11 and George W. Bush .
This will never be the case with the national media and President Trump .
While the 'hard news ' reporting has been far more serious than usual , it 's also included the usual misreporting @ @ @ @ @ @ @ president .
But that 's 'breaking news , ' '' he told Secrets .
Bozell added , `` Once they get to the analytical phase , deciding winners and losers , the floodgates will open .
Just as they blamed Reagan for AIDS , and Bush for Katrina , they will blame Trump for the terrible damage of the Wuhan coronavirus , both in terms of the economy and loss of life .
Just watch . ''

In a rare reflection of his administration’s 24/7 war on the coronavirus, President Trump Tuesday took a bit of blame for his bad press — and CNN immediately rewarded him for that.
At the end of his wide open and lengthy press conference today, he praised his team and efforts to quell the spread of the virus but admitted to failing in getting the media to acknowledge any of that.
“We’ve done a fantastic job. The only thing we haven’t done well is to get good press,” said the president, who earlier criticized a skewed New York Times report of one of his actions but generally pulled his punches against the media.
“We’ve done a fantastic job but it hasn’t been appreciated,” he said.
Conservative media critics say he’s exactly right. For example, his first move in closing borders to people from China, where the Wuhan virus began, was panned as “racist” in the media.
Trump referred to that when he said, “Even the closing down of the borders, which had never been done, and not only did we close them, we closed them early. The press doesn’t like writing about it.”
But rather than ranting about it, he said, “So we’ve done a poor job on press relationships. I don’t know who to blame for that. Maybe I can blame ourselves, so that I will blame ourselves, but I think we’ve done a good job. I think we’ve done a poor job in terms of press relationships.”
The result?
CNN’s Dana Bash, reviewing Trump’s calm and authoritative press conference, said it was exactly what the nation needs.
“If you look at the big picture, this was remarkable from the president of the United States. This is a nonpartisan, this is an important thing to note and to applaud from an American standpoint, from a human standpoint, he's being the kind of leader that people need, at least in tone, today, and yesterday in tone that people need and want and yearn for in times of crisis and uncertainty,” she said.
Bash added, “Big picture, the fact that the president has been convinced to be different whether it is Chris Christie was out there asking him to do it, whether it was Newt Gingrich sitting in Italy watching firsthand of what's happening or his friends at Fox News have changed their tone. Probably all the above of what's happening. But it is important to hear him strike that tone of calm and of understanding of how incredibly dire this is and the fact that he even said on the notion of people going out, somebody asked about well, what about people of all generations going out when they should not. And he said that they shouldn’t and they're actually performing self-policing. It is peer pressure, that they are telling people not to do it. That's pretty incredible from a guy who a couple of days ago was trying to downplay it and keep the economy is going.”
But Brent Bozell, founder and president of the Media Research Center, said no matter what Trump does, he will never get the media rally that other presidents in crisis mode have.
"During a time of national crisis, the American people, along with the national media, tend to rally around the president. There's no better example than 9/11 and George W. Bush. This will never be the case with the national media and President Trump. While the 'hard news' reporting has been far more serious than usual, it's also included the usual misreporting and gratuitous head slaps aimed at the president. But that's 'breaking news,'" he told Secrets.
Bozell added, "Once they get to the analytical phase, deciding winners and losers, the floodgates will open. Just as they blamed Reagan for AIDS, and Bush for Katrina, they will blame Trump for the terrible damage of the Wuhan coronavirus, both in terms of the economy and loss of life. Just watch."


bonginoreport--2020-03-18--Airlines Beg for Bailout After Spending 96% of Free Cash Flow on Stock Buybacks

• The Trump administration has proposed $ 50 billion of emergency aid for airlines ravaged by widespread cancellations amid the coronavirus pandemic .
• But critics are deriding it as a bailout to an industry that made bad financial decisions .
• Resistance to the plan emerged among Democrats and even some Republicans .
They 're concerned that extra money will go straight to share buybacks , as they have in the past .
• Their pushback is reminiscent of past criticisms relating to how companies have spent excess capital .
The Trump administration has responded to the airline industry @ @ @ @ @ @ @ billion bailout as part of its massive $ 1 trillion stimulus package .
The ultimate goal is to jolt the American economy by flooding it with cash .
Major airlines are reeling from massive wave of cancellations as Americans stay home and governments around the world implement travel bans to curb the spread of the coronavirus .
`` We can not afford to wait long for assistance , '' the trade association Airlines for America said in a statement , warning that some companies could be bankrupt by June .
But there 's @ @ @ @ @ @ @ , major airlines — including Delta Airlines , United Airlines , and Southwest — have used roughly 96 % of their available cash on stock buybacks , according to Bloomberg .
By reducing share count , these repurchases have pushed stock prices higher .
In the process , they 've drawn criticism for how they 've boosted shareholder returns without directly helping businesses .
The activity is central to a broader discussion about how companies use their cash — and whether they should be doing something different .
Read more : GOLDMAN SACHS @ @ @ @ @ @ @ dominate in a market where everyone is paralyzed by fear Some experts argue that these companies should have instead used those proceeds to build themselves a financial cushion or address labor issues .
Tim Wu , a Columbia University professor , targeted American Airlines in a recent New York Times op-ed .
`` It could have stored up its cash reserves for a future crisis , knowing that airlines regularly cycle through booms and busts , '' Wu wrote .
`` It might have tried to decisively settle its continuing contract disputes with @ @ @ @ @ @ @ '' He added : `` It might have invested heavily in better service quality to try to repair its longstanding reputation as the worst of the major carriers . ''
Read more : An investment chief whose ETF has surged 24 % during the coronavirus meltdown details his strategy for profiting during stock-market crashes Going beyond academia , the prospect of an airline bailout also prompted a wave of criticism from prominent Democrats , such as Rep. Alexandria Ocasio-Cortez of New York .
`` 96 % of airline profits over the last decade @ @ @ @ @ @ @ to juice the price - not raising wages or other investments , '' Ocasio-Cortez wrote on Twitter .
`` If there is so much as a DIME of corporate bailout money in the next relief package , it should include a reinstated ban on stock buybacks . ''
Even some Republicans came out against the idea of the government coming to the rescue of the battered airline industry .
`` I do not believe in the bailouts for the companies , period ...
They are smart people and will figure it out , @ @ @ @ @ @ @ Disdain for buybacks — and companies ' propensity to do them as much as possible — is hardly a new phenomenon .
Following the GOP tax plan that went into effect in 2018 , corporations across all industries came under fire for how they spent their proceeds .
Led by the tech and finance sectors , buybacks peaked to a record in 2018 , according to a according to JPMorgan .
For many , the takeaway was simple : These companies were electing to enrich shareholders , rather than invest in their businesses @ @ @ @ @ @ @ bailout will also likely remind many of the financial relief provided to major Wall Street banks in the wake of the Global Financial Crisis .
Congress ' $ 700 billion legislative package was known as the Troubled Assets Relief Program ( TARP ) and it set up a mechanism for the federal government to buy mortgage-backed securities that had gone bad .
Read more : 'Practically stealing ' : Jefferies mapped out dozens of cheap stocks worth owning in a coronavirus-stricken market .
Here are 10 of their top picks .
TARP invested @ @ @ @ @ @ @ $ 441.7 billion , making a profit for taxpayers .
But critics of the program argued it came with no strings attached and rewarded Wall Street for its bad behavior .
Some current lawmakers are learning from the past and pushing for different bailout terms compared to a 12 years ago .
Sen. Elizabeth Warren demanded tougher conditions on Tuesday , saying any bailout should require a company to maintain existing payrolls and refrain from buybacks , dividends , and executive bonuses for at least three years .
There 's ultimately a crucial @ @ @ @ @ @ @ Nelson , president of the Association of Flight Attendants union .
`` We wo n't let this to look like the bank bailout of 2008 , nor can you compare the two , '' Nelson wrote on Twitter .
`` The airline industry did n't cause the pandemic and money should come with significant conditions to help workers and keep planes flying , not enrich shareholders or pad executive bonuses . ''

The Trump administration has proposed $50 billion of emergency aid for airlines ravaged by widespread cancellations amid the coronavirus pandemic.
But critics are deriding it as a bailout to an industry that made bad financial decisions.
Resistance to the plan emerged among Democrats and even some Republicans. They're concerned that extra money will go straight to share buybacks, as they have in the past.
Their pushback is reminiscent of past criticisms relating to how companies have spent excess capital.
Visit Business Insider's homepage for more stories.
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The Trump administration has responded to the airline industry's request and proposed a $50 billion bailout as part of its massive $1 trillion stimulus package. The ultimate goal is to jolt the American economy by flooding it with cash.
Major airlines are reeling from massive wave of cancellations as Americans stay home and governments around the world implement travel bans to curb the spread of the coronavirus.
"We cannot afford to wait long for assistance," the trade association Airlines for America said in a statement, warning that some companies could be bankrupt by June.
But there's a catch. Over the past decade, major airlines — including Delta Airlines, United Airlines, and Southwest — have used roughly 96% of their cash flow on stock buybacks, according to Bloomberg. By reducing share count, these repurchases have pushed stock prices higher.
In the process, they've drawn criticism for how they've boosted shareholder returns without directly helping businesses. The activity is central to a broader discussion about how companies use their cash — and whether they should be doing something different.
Read more: GOLDMAN SACHS: Buy these 13 stocks poised to dominate in a market where everyone is paralyzed by fear
Some experts argue that these companies should have instead used those proceeds to build themselves a financial cushion or address labor issues. Tim Wu, a Columbia University professor, targeted American Airlines in a recent New York Times op-ed.
"It could have stored up its cash reserves for a future crisis, knowing that airlines regularly cycle through booms and busts," Wu wrote. "It might have tried to decisively settle its continuing contract disputes with pilots, flight attendants and mechanics."
He added: "It might have invested heavily in better service quality to try to repair its longstanding reputation as the worst of the major carriers."
Read more: An investment chief whose ETF has surged 24% during the coronavirus meltdown details his strategy for profiting during stock-market crashes
Going beyond academia, the prospect of an airline bailout also prompted a wave of criticism from prominent Democrats, such as Rep. Alexandria Ocasio-Cortez of New York.
"96% of airline profits over the last decade went to buying up their own stocks to juice the price - not raising wages or other investments," Ocasio-Cortez wrote on Twitter. "If there is so much as a DIME of corporate bailout money in the next relief package, it should include a reinstated ban on stock buybacks."
Even some Republicans came out against the idea of the government coming to the rescue of the battered airline industry.
"I do not believe in the bailouts for the companies, period ... They are smart people and will figure it out," Florida Sen. Rick Scott said.
A historical precedent for frustration
Disdain for buybacks — and companies' propensity to do them as much as possible — is hardly a new phenomenon. Following the GOP tax plan that went into effect in 2018, corporations across all industries came under fire for how they spent their proceeds.
Led by the tech and finance sectors, buybacks peaked to a record in 2018, according to a according to JPMorgan. For many, the takeaway was simple: These companies were electing to enrich shareholders, rather than invest in their businesses and labor forces.
The pending airline bailout will also likely remind many of the financial relief provided to major Wall Street banks in the wake of the Global Financial Crisis. Congress' $700 billion legislative package was known as the Troubled Assets Relief Program (TARP) and it set up a mechanism for the federal government to buy mortgage-backed securities that had gone bad.
Read more: 'Practically stealing': Jefferies mapped out dozens of cheap stocks worth owning in a coronavirus-stricken market. Here are 10 of their top picks.
TARP invested around $426.4 billion and ultimately recouped $441.7 billion, making a profit for taxpayers. But critics of the program argued it came with no strings attached and rewarded Wall Street for its bad behavior.
Some current lawmakers are learning from the past and pushing for different bailout terms compared to a 12 years ago. Sen. Elizabeth Warren demanded tougher conditions on Tuesday, saying any bailout should require a company to maintain existing payrolls and refrain from buybacks, dividends, and executive bonuses for at least three years.
There's ultimately a crucial distinction to consider, according to Sara Nelson, president of the Association of Flight Attendants union.
"We won't let this to look like the bank bailout of 2008, nor can you compare the two," Nelson wrote on Twitter. "The airline industry didn't cause the pandemic and money should come with significant conditions to help workers and keep planes flying, not enrich shareholders or pad executive bonuses."


bonginoreport--2020-03-18--Trump Fires Back at NYT’s “Disgraceful” Journalism

President Donald Trump ripped into the New York Times ’ coverage of his administration ’ s response to the coronavirus Tuesday , saying that the network did “ disgraceful ” journalism this week .
During his press briefing , a reporter asked Trump about his attacks on Democrats , including Michigan Gov .
Gretchen Whitmer and former President Barack Obama .
Whitmer had previously criticized the federal government ’ s response to Coronavirus , leading Trump to hit back characteristically .
Trump defended his actions , saying that he only lashes out when he is forced to “ respond.
” @ @ @ @ @ @ @ and therefore I did do that .
And I will continue to do that , ” Trump said , then pivoting to the media , accusing reporters of misrepresenting him in a phone call Monday .
“ If they ’ re going to say things that are false , like the story that was written yesterday .
Somebody — I think I know who , but they taped the conference call that I had with the governors , it was a good call , it was fine .
I assume somebody is going @ @ @ @ @ @ @ , continuing , “ They handed it to various people , and one of them was the New York Times and the New York Times chose to write totally inaccurately about it.
” “ It was a disgraceful thing .
It was bad journalism .
But , you know , they do a lot of bad journalism .
But , we respond to that .
And actually , people get it , people get it , ” he added .
“ No , I want it to be bipartisan and nobody ’ s @ @ @ @ @ @ @ But when they attack me or the people , these incredible people behind me , I ’ m not going to let them get away with it.
” The New York Times , among others , appeared to misrepresent Trump ’ s phone call with governors Monday to make it look like he was telling state governments that they were on their own to handle the coronavirus outbreak .
( RELATED : President Donald Trump Signs $ 8.3 Billion Funding Bill To Fight Coronavirus Into Law )

President Donald Trump ripped into the New York Times’ coverage of his administration’s response to the coronavirus Tuesday, saying that the network did “disgraceful” journalism this week.
During his press briefing, a reporter asked Trump about his attacks on Democrats, including Michigan Gov. Gretchen Whitmer and former President Barack Obama.
Whitmer had previously criticized the federal government’s response to Coronavirus, leading Trump to hit back characteristically.
Trump defended his actions, saying that he only lashes out when he is forced to “respond.”
“She said something that was false and therefore I did do that. And I will continue to do that,” Trump said, then pivoting to the media, accusing reporters of misrepresenting him in a phone call Monday.
WATCH:
“If they’re going to say things that are false, like the story that was written yesterday. Somebody — I think I know who, but they taped the conference call that I had with the governors, it was a good call, it was fine. I assume somebody is going to tape it,” Trump said, continuing, “They handed it to various people, and one of them was the New York Times and the New York Times chose to write totally inaccurately about it.”
“It was a disgraceful thing. It was bad journalism. But, you know, they do a lot of bad journalism. But, we respond to that. And actually, people get it, people get it,” he added.
“No, I want it to be bipartisan and nobody’s going to be better than me. But when they attack me or the people, these incredible people behind me, I’m not going to let them get away with it.”
The New York Times, among others, appeared to misrepresent Trump’s phone call with governors Monday to make it look like he was telling state governments that they were on their own to handle the coronavirus outbreak. (RELATED: President Donald Trump Signs $8.3 Billion Funding Bill To Fight Coronavirus Into Law)


bonginoreport--2020-03-18--McConnell Set to Pass House Coronavirus Bill, Has Plans For Broad Bill Focused On Providing Small Bu

McConnell Set to Pass House Coronavirus Bill, Has Plans For Broad Bill Focused On Providing Small Business Relief

The Senate is going to vote on the House 's coronavirus emergency relief bill `` as soon as '' they get permission , Senate Majority Leader Mitch McConnell explained at his press briefing .
There will be pushback from wary Republicans , but “ my counsel is to gag and vote for it anyway , ” the leader added .
But , after that vote , Senate Republicans are going to write a much broader proposal , McConnell continued .
He created three task forces among Senate Republicans who have been asked to come up with the next bill .
@ @ @ @ @ @ @ agreement among ourselves as to what Senate Republicans and the administration favor doing next , '' he explained .
Several Republicans were hesitant about the measure House Democrats introduced because of how it would affect small businesses that may be overwhelmed by having to provide more paid sick leave to employees , without any sunset provisions .
McConnell himself shared that concern in a Tuesday morning press release .
“ In particular , it seems increasingly clear that the House ’ s effort to mandate that small businesses provide new worker benefits , @ @ @ @ @ @ @ major jeopardy of their own , might even be actively harmful unless we urgently address a broader package that includes more and broader small business relief , '' he wrote .
McConnell promised that the Senate `` will not adjourn '' until they have passed a better , fairer measure .

The Senate is going to vote on the House's coronavirus emergency relief bill "as soon as" they get permission, Senate Majority Leader Mitch McConnell explained at his press briefing. There will be pushback from wary Republicans, but “my counsel is to gag and vote for it anyway,” the leader added.
But, after that vote, Senate Republicans are going to write a much broader proposal, McConnell continued. He created three task forces among Senate Republicans who have been asked to come up with the next bill.
"We're trying to reach an agreement among ourselves as to what Senate Republicans and the administration favor doing next," he explained.
Several Republicans were hesitant about the measure House Democrats introduced because of how it would affect small businesses that may be overwhelmed by having to provide more paid sick leave to employees, without any sunset provisions. McConnell himself shared that concern in a Tuesday morning press release.
“In particular, it seems increasingly clear that the House’s effort to mandate that small businesses provide new worker benefits, just many small businesses themselves are in major jeopardy of their own, might even be actively harmful unless we urgently address a broader package that includes more and broader small business relief," he wrote.
McConnell promised that the Senate "will not adjourn" until they have passed a better, fairer measure.