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Yellow | Not Essential Employees Says The Gop Congress

longblade said:
pence and mosco mitch are the two main characters ..... all of a sudden they are fiscal conservatives .. aka they gave all the money to billionaires in tax breaks
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It was the house democrats who insisted on the formation of the oversight panel. You are being very dishonest. Are you friends with road boss? Let us just say he's less than forthright with the facts also.
 
Bubba Gump said:
Could you tell us who was one the panel, how they voted? Try to be an educator, not a divider.
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Lending facilities set up by the Federal Reserve and Treasury Department to avoid a coronavirus-related credit crunch have distributed about $14 billion out of $500 billion Congress approved in a March aid bill.

The light activity of the 11 emergency lending facilities was the main topic of a monthly report released Monday by the Congressional Oversight Commission, which was created under the $2 trillion pandemic relief package to oversee the law's lending programs to distressed businesses, states and municipalities.

The biggest chunk of lending thus far has been the Fed's purchase of $11.4 billion worth of corporate bonds and exchange-traded funds that invest in baskets of corporate bonds. Another $1.2 billion was spent on short-term debt issued by the state of Illinois, and $937 million has gone to loans to companies secured by assets such as consumer and business loans.

The report also announced the commission’s intention to “explore the decision” by the Treasury Department to make a $700 million loan to YRC Worldwide Inc., which was announced July 1. So far that's the only Treasury loan inked out of $46 billion set aside for airlines and businesses considered "critical to maintaining national security," though several airline loans are in the pipeline.

The commission was critical of the YRC loan, noting that risk of losing this money “appears high” and it is “questionable” that the loan meets the standards set by the March law.
Bubba Gump said:
It was the house democrats who insisted on the formation of the oversight panel. You are being very dishonest. Are you friends with road boss? Let us just say he's less than forthright with the facts also.
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it was the house democrats that came up with the plan to give the money
 
longblade said:
btw its the gop who is in control of the panel
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You are so full of ::shit:: it’s not funny, First Off, earlier you said it was Pence, he’s no where near this committee by rule.

the committee has two Republicans and two Democrats on it. It doesn’t even have a chair person because Pelosi and McConnell have been fighting over who it should be.

one of the Democrats on the committee is Elizabeth Warrens aid who has been publicly trashing this loan on twitter.
 
Bubba Gump said:
You must be simple, I asked who was on the panel, how did they vote?
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https://www.washingtonpost.com/business/2020/07/20/yrc-treasury-loan-coronavirus/

The oversight commission includes Republicans such as Sen. Patrick J. Toomey (Pa.) and Rep. French Hill (Ark.), as well as Democrats such as Rep. Donna Shalala (Fla.) and Bharat Ramamurti, an aide to Sen. Elizabeth Warren (Mass.).


The Commission intends to explore the decision to designate YRC as critical to maintaining national security, in part, because the risk of loss of U.S. taxpayer money on this loan appears high,” the oversight commission said in the report, released Monday. “In fact, the Commission notes that the level of risk taken in the loan to YRC appears strikingly higher than the risks associated with the other facilities over which the Commission has oversight.”

On Twitter, Ramamurti also described the basis for the loan as “shaky.
 
longblade said:
it was the house democrats that came up with the plan to give the money
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Democrats immediately attacked Steve Mnuchin for this loan which he has been defending.

https://www.washingtonpost.com/business/2020/07/20/yrc-treasury-loan-coronavirus/


Mnuchin has defended the Treasury Department’s implementation of the bailout and the loan for YRC. Congress gave the department the authority to approve more than $500 billion in emergency loans to companies and cities. Most of that money has not been disbursed. Mnuchin said that the Defense Department had certified YRC as important for national security
 
Keepingon said:
They got the money, this is just an attempt to smear people by saying Mnuchin made a bad loan and Trump knew it.
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How do you know this? Did they get the deposit and spend it already? Or did they just think they were getting it? Or was it given and this oversight committee is smacking knuckles for giving it?
 
Keepingon said:
http://investors.yrcw.com/node/28056/html

That’s the 8-k that was posted here YRC gave the shares required to the government and filed the 8-k I believe July 7th.
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There is no assurance that the proposed Treasury Equity Issuance will be completed on the terms described herein or at all or when it may be completed. The UST loan agreements are still being negotiated and the terms thereof have not been finalized at this time. There can be no assurance that such financing will be completed, if it all, or when it may be completed.
 
buster smith said:
There is no assurance that the proposed Treasury Equity Issuance will be completed on the terms described herein or at all or when it may be completed. The UST loan agreements are still being negotiated and the terms thereof have not been finalized at this time. There can be no assurance that such financing will be completed, if it all, or when it may be completed.
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How do you know?
 
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