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Political involvement should be a requirement for citizenship

Senator Elizabeth Warren grills Treasury Secretary Mnuchin’s unchecked windfall to corporations

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Senator Elizabeth Warren grills Secretary of the Treasury Steven Mnuchin for not holding corporations to the same standards as small businesses and others.

“You were given the authority to determine the terms. You’ve said it yourself,” Warren said at the end. “You’re putting out term sheets. And those term sheets do not require that a single corporation getting billions of dollars in taxpayer money retain one job.”

Watch full episodes here.

Secretary Mnuchin Refuses to Use His Authority to Require Companies Receiving Taxpayer Bailout Money Keep Workers on Payroll | U.S. Senator Elizabeth Warren of Massachusetts

Washington, D.C. – Treasury Secretary Steven Mnuchin indicated that he will refuse to use his authority under the CARES Act to require companies that receive taxpayer bailout money to keep workers on payroll after questioning from United States Senator Elizabeth Warren (D-Mass.) in a Senate Banking Committee hearing this morning.

Senator Warren also called for criminal and civil penalties for CEOs whose companies misuse funds and Secretary Mnuchin said he will “review that”. Before the hearing, she wrote to Federal Reserve officials urging them to hold CEOs personally accountable and subject to criminal penalties if companies’ do not comply with CARES Act bailout terms.

Source: Secretary Mnuchin Refuses to Use His Authority to Require Companies Receiving Taxpayer Bailout Money Keep Workers on Payroll | U.S. Senator Elizabeth Warren of Massachusetts

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About Egberto Willies

Egberto Willies is a political activist, author, political blogger, radio show host, business owner, software developer, web designer, and mechanical engineer in Kingwood, TX. He is an ardent Liberal that believes tolerance is essential. His favorite phrase is “political involvement should be a requirement for citizenship”. Willies is currently a contributing editor to DailyKos, OpEdNews, and several other Progressive sites. He was a frequent contributor to HuffPost Live. He won the 2nd CNN iReport Spirit Award and was the Pundit of the Week.

Comments

  1. wzrd1 says

    Small businesses are still getting the shaft as well, as the majority of the money provided by Congress still is sitting in the treasury awaiting distribution.
    Still, it’s astounding how nobody in the entire administration wants to use their statutory authority, even while attempting to usurp novel, non-codified authority to abuse this and many other allied nations.

    I’m reminded of the Emperor’s New Clothes, save in this case, the Emperor doesn’t even have skin, it’s so phenomenally thin.