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Saturday, March 21, 2020

33 Million Jobs Lost: Mnuchin Tells Congress That Without Bailouts, Depression Era Unemployment Awaits

As Treasury Secretary Steve Mnuchin pitched his trillion-dollar-plus bailout for Americans (and their companies) struggling during the  Covid-19 crisis, it appears he has ripped a page right out of the TARP playbook... scare the Senators to death about the consequences of not approving the funds.

Bloomberg reports, according to sources familiar with the matter, that Mnuchin warned the Senate GOP members that without action, the US unemployment rate could spike to a stunning 20%.

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