Wednesday, May 6, 2020

Mnomanot

AITOOW thinks Mnuuchin will take the fall (and rightfully so) for the missteps in the stimulus bill. There will be endless stories of graft. Mark Cuban was on the radio outlining all the mistakes in the small business loan portion. How easy it is to basically remain closed and still not have to repay the loan. How hard it is for small companies to get the money. How banks are playing favorites with their big customers. Etc. Plus people will freak out when they learn how many billions the banks (the enemy) are reaping from this *while also playing favorites with entities that don't need the money as badly). Can we say "Wall St versus Main St" again? Real basic miscues. Calls into question his familiarity with basic business practices and his sensitivity. Angers that demo. The companies who received the loans will also be an issue. The list of companies that received benefits that weren't meant to will be a huge talking point. How could this not have been anticipated? Basic common sense. The difficulty getting people stimulus checks will also be a sticking point. The money issues never seem to be an issue going the other way. Waste and graft will probably be an issue and call into question his lack of foresight and knowledge of the milieu. The tea party crowd has probably already decided to stay home. Trump's largesse and this latest clumsy stab at saving his economy probably keeps them home on election day. And they want more. This looks like deja vu. It didn't work for Bush/McCain and I doubt it will work for Trump. Step one will be blame Mnuchin for bad advice/policy. Doesn't really make Trump look like a great businessman either. It is, in actuality, a fair criticism. I'm surprised and disappointed and skeptical about their competency in this area and I felt confident in them and their bona fides before I saw their work.

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