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DeeCee

Coronavirus | COVID-19 | Global Pandemic | PLEASE KEEP DISCUSSION TO THIS THREAD

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4 minutes ago, Fullbuster said:

 

That was pretty much George W Bush's thought during his last year in power: Bear Stearns or any other bank/corporation shouldn't get bailed out...and then Bear Stearns fell and didn't get bailed out, making the financial crisis much worse, it's historically considered as a huge mistake. Let's try to not repeat this, mistakes of the past are there in order to not be repeated in the future, otherwise we're doomed.

 

Large corporations can be bailed out / nationalized but it must be a loan, not a gift: That's what Obama did with the US carmakers: the US government got its money back after they got better.

You mean Lehman brothers?

Because Bear Stearns did get bailed out. JPMorgan Chase bought Bear Stearns, while the Federal Reserve took on the risk of taking over all the losses, apart from the first billion. They did however let Lehman Brothers collapse after bailing out Bear Stearns, Fannie Mae and Freddie Mac.

 

Sometimes you need the state to make such a move, else, like Lordmandeep correctly said, you end up ruining an entire region of your country. But it should indeed come with lots of strings attached to it. First of all, the state should take over. Afterwards the company should need to reimburse the state for all the costs it brought onto the state. But most importantly, such a move should be done do save the jobs of the people, not to give a temporary lift to the company so it can quickly go on its errant ways again. You must not let it come to the point where the company moves its debt to the state wihout repercussions, nor should you let it get rid of the workforce while handing out money to the leaders.

 

The sad thing about certain politicians is that they rail against any handouts to those who actually need it, before demanding them for companies. It's ridiculous how they want to keep people down and make drastic demands towards them for being given even a modicum of help, while turning on the spot and demanding immediate and expensive help with little or no oversight and regulations when it comes to companies. Hypocrisy and greed at its finest.

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15 minutes ago, Lordmandeep said:

Anyone suggesting Boeing should fail has likely never been to Seattle

 

You would likely turn one of the most prosperous areas of the country into a freaking depressing hell scape.

Don’t panic. Boeing’s problems are entirely due to COVID-19 so they’re getting a $17 billion bailout. 
 

https://www.usatoday.com/story/money/2020/04/03/boeing-bailout-737-max-coronavirus-covid-19/2919213001/

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Just now, George Parr said:

You mean Lehman brothers?

Because Bear Stearns did get bailed out. JPMorgan Chase bought Bear Stearns, while the Federal Reserve took on the risk of taking over all the losses, apart from the first billion. They did however let Lehman Brothers collapse after bailing out Bear Stearns, Fannie Mae and Freddie Mac.

 

 

 

Yeah, Lehman Brothers...my memories failed me lol. Fixed ^^"

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31 minutes ago, lorddemaxus said:

Governments should stop corporations from becoming too big to fail in the first place. 

That is the key...if you could solve that one when times are good, we wouldn't be where we are when times are bad...

 

 

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17 minutes ago, DeeCee said:

Don’t panic. Boeing’s problems are entirely due to COVID-19 so they’re getting a $17 billion bailout. 
 

https://www.usatoday.com/story/money/2020/04/03/boeing-bailout-737-max-coronavirus-covid-19/2919213001/

 

 

I am saying we should have better laws to control such companies that are to big to fail but just letting them failed to be like "yeah fuck capitalism" is not very smart either. 

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52 minutes ago, AndyK said:

Is anyone else in Europe getting this hot weather?

We had here in the south a very long stretch of days of solely sunny weather, way too warm and too dry for the season.

For Monday rain is predicted, depending on the weather report service it seemingly can include heavy thunderstorms, lighting,... Tuesday again sunny but very cold (like minus 15-20 °C in relation to this week, still plus), then climbing again.

 

A bit strange weather patterns

 

 

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1 hour ago, IndustriousAngel said:

Austria is pretty warm atm, 22-24°C but not as hot as UK ... very dry, though, lots of local woodfires already.

Don't think it's statistically that hot as weather centres take their measurements in the shade.

 

But it's wall to wall sunshine and really hot.

 

Got a touch of sunburn yesterday as I'm painting the house in shorts and shirt off.

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2 minutes ago, AndyK said:

Got a touch of sunburn yesterday as I'm painting the house in shorts and shirt off.

 

Husband got one too a few days back whilst cutting plants in the garden and so on.

Yesterday he remained as far as possible in the shadows, today he did ‘voluntarily’ the next batch of the inventory in the nearly windowless storage rooms (with our son). 

He hopes he can do gardening tomorrow a bit, Monday bad... we will see.

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2 hours ago, AndyK said:

Is anyone else in Europe getting this hot weather?

23°C here.

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10 minutes ago, AndyK said:

Got a touch of sunburn yesterday as I'm painting the house in shorts and shirt off.

me and Mrs Industrious got a nasty sunburn back in May 2017, wandering around the lakes around Grey Mare's Tail in the Borders ... 30°C and the car's AC passed away along the way 🥵

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9 minutes ago, DeeCee said:

US people. 
 

 

 

Don't remind me. It still pisses me off that some of us aren't getting a stimulus check. 

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1 hour ago, terrestrial said:

 

Husband got one too a few days back whilst cutting plants in the garden and so on.

Yesterday he remained as far as possible in the shadows, today he did ‘voluntarily’ the next batch of the inventory in the nearly windowless storage rooms (with our son). 

He hopes he can do gardening tomorrow a bit, Monday bad... we will see.

Hopefully it will feed through into the Covid statistics.

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Jean-François Delfaissy, President of the scientific task force in charge of the fight against Covid19 in France, realized something strange about Covid19: the huge majority of severe cases don't smoke, it's like nicotine protects you against it according to him. 

 

🤔

Edited by Fullbuster

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44 minutes ago, AndyK said:

Hopefully it will feed through into the Covid statistics.

I think I miss something (joke?)

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13 hours ago, Barnack said:

Not sure if AMC is that big of a big conglomerate (not sure it made the S&P 500, you needed a 5 times bigger market cap than that I think).

 

But are you suggesting Disney, At&t, google, Apple, Amazon, Ford, GM, Chevron, Costco, Verizon, General Electric, Cargill, Koch, Coca-Cola, Walmart, Exxon, Shell, Bank of Americas, McDonalds are not big conglomerate compagnies or that they will not survive this ?

Every single one will

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9 hours ago, DeeCee said:

Boeing probably should fail. They’re useless across the whole company. It’s not like there’s going to be massive demand for new passenger planes over the next few years, SLS is a bottomless boondoggle to nowhere, Starliner is an embarrassment, KC-46 Tankers have had multiple issues. The list is almost endless. 
 

Sorry, Boeing rant over. 
 

Edit:A couple of articles. Boeing’s latest embarrassment. 
 

https://arstechnica.com/science/2020/04/a-nasa-analysis-of-boeings-lunar-cargo-delivery-plan-is-very-unflattering/

 

The mystery flight where the rot began. 
 

https://www.theatlantic.com/ideas/archive/2019/11/how-boeing-lost-its-bearings/602188/

 

They aren't useless. Airbus is struggling hard and there isn't a replacement company to step up. Like AIG can save them and make money off it. Win win 

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