by dethneer
Ok so it seems like every company and industry is coming out of the woodwork to ask the government for a bailout, from hotels to restaurants to manufacturers. Freaking Wendy’s mooned 40% yesterday because of bailout hopes. However they fail to realize that the Trump administration is stingy af and no one is getting jack squat. Take a look at Steve Mnuchin’s proposal for the airline “bailout” package.
The proposal consists entirely of $50 billion in collateralized debt and is completely worthless because the airlines can already access secured debt through the open market by encumbering their planes, without all the government strings attached. As soon as that document came out, airline stocks plunged 20-30% because shareholders realized they weren’t going to get free tendies from Uncle Sam. Trump basically didn’t give the airlines shit, and this is after he talked about how he is behind them 100% and how they’re a vital industry that the government needs to support. If the airlines aren’t getting a bailout, do you really think any other industry will? Nope, no way bub. They’re all fucked.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.