By this time, with the level of the pandemic, and its associated risks, reaching the present level (and the anticipated ramifications), most would agree, it is important for the Federal government, to do, what they can, to, shore – up, our economy, and the future well – being of our citizens. This includes a combination of guaranteeing our people, some degree of financial stability, as well as ensuring corporations, remain, stable – enough, to survive, and employ our citizens, into the future! However, in the past, when major corporations were offered a stimulus, loans, and a so – called, bail – out, the executives of these companies, seemed to try to take advantage, by not using the funds, for the desired needs. In order to protect, against these abuses, while, simultaneously, ensuring, our corporations, are capable of surviving, and employing Americans, after this crisis, we need some provisions, and guarantees. While Senate Majority Leader Mitch McConnell, has submitted legislation, where there are no protections, and, corporations are favored over citizens, this article will attempt to consider, examine, review, and discuss, 6 guarantees which should be included.
1. Protect workers: Any financial aid must prioritize protecting workers. Therefore, any company, receiving funds, must agree, and guarantee, a specific minimum level of employment, during, and after, this crisis!
2. Funds must be used to make corporation stronger, financially: Instead of going to Executive bonuses, and stock buy – backs, the government must be guaranteed, the funds, are used, to enhance the company’s financial stability, and sustainable future. Therefore, a clear – cut plan, must be a component of this agreement!
3. No stock buy – backs: When companies use these funds, to assist their stock prices, by buying – back, shares, it doesn’t help make the corporation stronger, but, rather, only serves the best interests of the wealthiest shareholders!
4. No Executive bonuses, until repaid: Unless/ until, any funds given/ provided, are repaid, according to strict terms of repayment, there must be no allowance of Executive bonuses, or major pay increases, to these executives!
5. Vision for the future: Instead of no, or haphazard, planning, this should be well, thought – out, and considered, thoroughly! Every company should agree, with a common vision, which focuses on the common good, before receiving funding!
6. Short – term loan, or government equity: Depending upon the specific corporation, and the industry, a decision, should be made, whether the terms will call for, short – term loans, or, rather, government assuming equity. These decisions must be made carefully, fully, and in the best interest of our citizens, in the future!
Wake up, America, and, demand, any bail – out, be based, on specific guarantees, and specifications! This crisis needs clear attention, to the bigger – picture!