Do Nothing

Written by SK Ashby

(Cartoonist - Adam Zyglis)

In other news, the number of coronavirus cases in the United States increased to 10,000 this morning; double the number from two days ago.

The actual number of cases is likely far higher, it's just that testing is so limited we can't see it.

Meanwhile, the European Union's top Brexit negotiator, Michel Barnier, has tested positive for the virus. So, there's another limit on ongoing Brexit talks.

Finally, various industries are now asking Congress for up to $2 trillion in bailouts and that includes Boeing.

Boeing Co on Tuesday called for a $60 billion bailout in access to public and private liquidity, including loan guarantees, for the struggling U.S. aerospace manufacturing industry, which faces huge losses from the pandemic.

The U.S. planemaker has told lawmakers it needs significant government support to meet liquidity needs and it cannot raise that in current market conditions, people briefed on the matter said.

I know Boeing is more or less a national institution that we rely on for many things from civilian air travel to national defense and commercial satellites, but part of me also wants to tell them to get fucked and file for bankruptcy.

A Boeing bailout was floated to Congress before the coronavirus even existed because they so badly mishandled their 737 Max program. Boeing self-regulated themselves into multiple plane crashes that killed hundreds and led to canceled orders for said planes.

Rather than a bailout, Boeing should be temporarily placed into receivership.

I'm a little more sympathetic to the restaurant associations asking for a bailout because they didn't ask for this and they're far more vital to the economy.