By Nathan Layne, Rajesh Kumar Singh
https://www.reuters.com/journalists/nathan-layne
https://www.reuters.com/journalists/rajesh-kumar-singh
New York Governor Andrew Cuomo on Tuesday called on Congress to pass a stimulus package in response to the coronavirus pandemic that funds police officers, teachers and other local and state employees and warned against repeating the corporate-focused bailouts following the 2008 financial crisis.
“Don’t do it again,” Cuomo said at a daily briefing, referring to the 2008 federal bailouts which big banks used in part to pay large bonuses to executives. “No handouts to greedy corporations, no political pork and no partisanship.”
Since early March, Congress has passed bills allocating $3 trillion to combat the pandemic, including money for individuals and companies to blunt an economic impact that saw the unemployment rate surge to 14.7% in April, as U.S. job losses hit levels not seen since the Great Depression of the 1930s.
https://www.reuters.com/article/us-health-coronavirus-usa-new-york/new-york-governor-warns-against-paying-greedy-corporations-in-stimulus-bill-idUSKBN22O2UA