R U Watching? "Companies like Boeing have boosted their balance sheets with huge loans while laying off workers. Meanwhile, the PPP is rife with inequities & those who need help the most aren’t getting it. In April, almost $32 billion in junk bonds were sold, that is by companies that are in worse financial shape than Boeing. The capital markets have been slammed shut for these companies, and hundreds of thousands of smaller companies, most of which aren’t traded publicly for which the capital markets—either with or without the Fed—offer no hope. According to the study fewer than 20% of small businesses in NY, “the epicenter of the coronavirus in the U. S.,” according to the NY Y Fed, have been approved to receive funding from the PPP. As a result, many small businesses and 20% of the workforce are left reeling for yet another day in Donald Trump’s divided America."
At www.vanityfair.com
