The Federal Reserve said yesterday that they could pump over $2 trillion into the economy, while other reports suggested it could be over $4 trillion. All of this is done without oversight and regulation by Congress, based on decisions made exclusively by the Fed.

In 2008, in the wake of the Bush Crash, the Fed passed out trillions of dollars to billionaires and big banks, bailing out the wealthy and powerful. It looks like we're set for a repeat of that performance.

Will there be a bailout for average people, poor people, and the homeless? Not so much, as Republicans complain about the cost of helping average people and resist a call for regular monthly payments, and Ivanka Trump is put in charge of the small business effort so, presumably, the Trump family businesses can take good care of themselves...

-Thom

Thursday's Daily Stack

Hour One: Issues of the Day
- Congresswoman Pramila Jayapal, U.S. Congressmember (D-WA, 7th District) & Co-Chair of the Congressional Progressive Caucus / Senior Whip-Democratic Caucus & serves on multiple committees including the House Budget Committee & the House Judiciary Committee

Article: "6.6 million Americans filed for unemployed last week, bringing the pandemic total to over 17 million" by Heather Long and Andrew Van Dam.

Article: "The Economics of the 2020 Stimulus Packages" by Edwin T. Burton.

Article: "President Trump Signs $2.2 Trillion Coronavirus Stimulus Package Into Law. Here's What's in It" by Alana Abramson, Philip Elliott.

Article: "Great Depression" by Wikipedia.

Article: "Small business owners seeking coronavirus relief loans stymied by big banks' restrictions" by Ronn Blitzer.

Article: "While Americans await their stimulus checks - or a short-term universal basic income - Spain moves to permanent basic income for low-income residents. Here's how the Silicon Valley dream became a policy plank for Andrew Yang and now Donald Trump." by Marguerite Ward and Drake Baer.

Bill: "H.R.1384 - Medicare for All Act of 2019" by Rep. Jayapal, Pramila [D-WA-7].

Article: "Coronavirus lockdown slashes air pollution in China by 25% 'and could save up to 36,000 lives a month' if it was sustained long-term, study finds" by Joe Pinkstone.

Article: "COVID-19 may disproportionately affect black Americans " by Mackenzie Bean.

Article: "Coronavirus is infecting, killing black Americans at a higher rate; Trump removes federal stimulus watchdog" by Siobhán O'Grady, Rick Noack, Marisa Iati, Meryl Kornfield, Teo Armus, Kim Bellware, Miriam Berger and John Wagner.

Article: "New Data Shows Black Americans Are at a Higher Risk for Covid-19 in Some States" by Joanna Nelius.

Article: "What we know about coronavirus' long-term effects" by Erin Schumaker.

Article: "The worst-hit coronavirus survivors could be left with lung damage that takes up to 15 years to heal, UK intensive-care specialists say" by Bill Bostock.

Article: "Under the Virus's Cloak, Trump Pursues Long-Sought Policies" by Zolan Kanno-Youngs and Annie Karni.

Article: "Coronavirus: Leaders, Asian Community, Hollywood Call Out Anti-Asian Attacks, Discrimination" by Betty Yu.

Article: "New York's coronavirus outbreak originated mainly in travelers from Europe, new studies show" by Lauren Frias.

Article: "Trump Quietly Shuts Down Asylum at US Borders to Fight Virus" by Maria Verza, Elliot Spagat and Astrid Galvan.

Article: "ICE releases detainees from vulnerable populations during COVID-19 pandemic" by Rebecca Carballo.

Article: "Washington's 2020 presidential primary saw a record high-turnout" by Michael Goldberg.

Article: "Trump Ousts Pandemic Spending Watchdog Known for Independence" by Charlie Savage and Peter Baker.

Article: "Bipartisan group of senators demands Trump explain intel IG firing" by Andrew Desiderio.

Article: "Trump Suggests He Can Gag Inspector General for Stimulus Bailout Program" by Charlie Savage.

Article: "Trump approval dips as Americans question his handling of coronavirus crisis" by Sahil Kapur.

Article: "Trump expands Defense Production Act use to manufacture ventilators" by Daniel Uria.

Article: "Defense Production Act" by Wikipedia.

Article: "Why so hard to be tested for coronavirus? Not enough swabs and confusing government guidelines" by Ashley Hiruko, John Ryan.

Article: "Bipartisan call for more coronavirus test swabs in Washington" by Graham Johnson.

Article: "New self-swab COVID-19 test is just as accurate, study finds" by Joseph Thompson.

Article: "USPS warns it might have to shutter by June as $2 trillion coronavirus stimulus package provides no funding" by Nicole Goodkind.

Article: "Trump Rejects Calls for USPS Stimulus as Agency Sounds Alarm Over Its Future" by Eric Katz.

Article: "Coronavirus relief: $2 trillion package gives benefits to gig workers" by Dara Kerr.

Hour Two: Stimulus... Where Does the Money Come From and Where Will It Go?
- Economist Dr. Richard Wolff, Democracy At Work / Understanding Marxism / Understanding Socialism

Article: "Fed surprises market with program to support corporate bonds amid coronavirus pandemic" by Bob Pisani.

Article: "Fed to provide extra $2.3tn in loans" by Colby Smith.

Article: "Major Foreign Holders Of Treasury Securities" by Treasury.

Article: "List of countries by external debt" by Wikipedia.

Article: "Homeowners hurt by COVID-19 can delay mortgage payments, but some say they're anxious and confused about the real cost" by Jessica Menton.

Law: "Glass-Steagall Act", 1933.

Law: Gramm-Leach-Bliley Act (1999) (Financial Services Modernization Act Of 1999).

Article: "Vice President Mike Pence Blocking Top Health Officials From Appearing On CNN" by Kevin Billings.

Article: "Colorado to get ventilators at Sen. Gardner's request, Trump says" by Tom Roeder.

Article: "Hugo Chávez" by Wikipedia.

Article: "The Saga of Jerry Falwell Jr.'s Bizarre Relationship With a Miami Beach Pool Boy, Explained" by Ryan Bort.

Article: "The arrest warrants Jerry Falwell Jr. says have been issued for 2 journalists came from Liberty University's police department" by Grace Panetta.

Tweet: "A key CoronaVirus Model is now predicting far fewer deaths than the number shown in earlier models. That's because the American people are doing a great job. Social Distancing etc. Keep going!" by Donald J. Trump.

Article: "Pence Lies/Michigan Out of Supplies" by American Bridge.

Article: "US freezes shipments of protective gear overseas" by Kylie Atwood, Zachary Cohen, Nicole Gaouette and Jennifer Hansler.

Article: "'I had to choose between my health and benefits I'm entitled to' | VA makes changes to benefits exams after lawsuit" by Laura Geller.

Article: "President Trump made 16,241 false or misleading claims in his first three years" by Glenn Kessler, Salvador Rizzo and Meg Kelly.

Article: "Most New York Coronavirus Cases Came From Europe, Genomes Show" by Carl Zimmer.

Article: "Goldman Sachs CEO David Solomon: Process Of Getting People Back To Work Will Be A "Slow And Cautious One"" by Ian Schwartz.

Article: "Belgian-Dutch Study: Why in times of COVID-19 you can not walk/run/bike close to each other." by Jurgen Thoelen.

Article: "Oregon governor recommends people wear masks in public" by Jordyn Brown.

Article: "Coronavirus: NYC Mayor de Blasio urges New Yorkers to cover face with scarves or bandanas while outside" by Noah Higgins-Dunn, Kevin Breuninger.

Article: "Should you wear a face mask? White House Coronavirus Task Force considering new guidance, Dr. Fauci says" by Ravi Baichwal.

Article: "Bernie Sanders drops out of the 2020 race, clearing Joe Biden's path to the Democratic nomination" by Gregory Krieg, Ryan Nobles and Annie Grayer.

Article: "Coronavirus Recovery: Ivanka Trump Takes Charge Of Key Effort To Help Small Businesses Back On Feet" by Prathapan Bhaskaran.

Article: "Trump, who has lied about voting for years, disparages voting by mail for self-serving reasons" by Philip Bump.

Article: "Big majority of Americans would love to vote by mail this fall" by Joan McCarter.

Article: "Trump preparing to unveil second coronavirus task force, officials say" by Ashley Parker, Josh Dawsey and Yasmeen Abutaleb.

Article: "Passover" by Wikipedia.

Article: "Mad King Trump angers the gods" by Thom Hartmann.

Article: "Google to develop website to help with coronavirus test - Trump" by Reuters.

Article: "Trump misrepresents Google coronavirus website" by Jessica McDonald.

Article: "Revealed: Kushner Firm Built Coronavirus Website Trump Promised Google Was Building" by Bob Brigham.

Article: "'There's a shortage of everything': Pharmacies in New York City struggle to keep key medications stocked amid coronavirus outbreak" by Spencer Kimball.

Article: "Pope says coronavirus pandemic could be nature's response to climate crisis" by Delia Gallagher.

Article: "Marshall Plan" by Wikipedia.

Article: "Vladimir Putin's Net Worth Is $200 Billion, According To Prominent Russian Finance Expert" by Brian Warner.

Article: "The Secret Service signed an 'emergency order' this week - for 30 golf carts" by Jeva Lange.

Article: "Paycheck Protection Program" (PPP) by SBA.

Letter: "to John Cartwright, 5 June 1824" by Thomas Jefferson.

Article: "Constitution of the United States" Article 1 section 2. "The House of Representatives shall be composed of members chosen every second year by the people of the several states...".

Article: "Coronavirus stimulus will make Mnuchin 'one of the most powerful Cabinet members in modern history'" by Kathryn Krawczyk.

Article: "Mnuchin Lied About His Bank's History Of Robo-signing Foreclosure Documents" by David Dayen.

Article: "Joe Biden Has Been Dropping Hints About his VP Pick" by Andy Kroll.

Friday on The Thom Hartmann Program, 12-3pm ET

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