Cometh the Crisis, Cometh the Bail-Out
- Norwegian Cruise Line is down 86%
- Royal Caribbean Cruise Line is down 82%
- Carnival Cruise Line is down 81%
- MGM Resorts is down 79%
- United Airlines is down 74%
- Boeing is down 73%
- Marathon Petroleum is down 71%
- Citigroup is down 55%
- Hilton Worldwide is down 55%
- Las Vegas Sands (casinos and resorts) is down 46%
- ExxonMobil is down 44%
- Ford is down 44%
- Starbucks is down 43%
- Best Buy is down 41%
- Disney is down 40%
- Goldman Sachs is down 40%
- Union Pacific Railroad is down 39%
- JPMorgan Chase is down 38%
- McDonald's is down 37%
"The Fed could ask Congress for the authority to buy limited amounts of investment-grade corporate debt...The Fed's intervention could help restart that part of the corporate debt market, which is under significant stress."
"Congress, White House in Race at 'Warp Speed' for Huge Stimulus"
"White House officials are working with congressional Republicans on an emergency stimulus package that could send two $1,000 checks to many Americans and also devote $300 billion towards helping small businesses avoid mass layoffs, according to two senior administration officials and a Treasury Department fact sheet."
"Responding to this kind of protracted slowdown will require a bigger stimulus than the 6% of gross domestic product proposed by the administration."Instead, policy makers should be planning for two years in which, in the absence of a fiscal intervention, the output gap will be significantly negative – possibly as much as 6% of GDP, or on the same scale as the recession caused by the 2008-09 financial crisis."It's going to take a much larger fiscal infusion to make up for that shortfall – something more on the order of $2.5 trillion rather than $1.2 trillion."