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Nouriel Roubini: Trillion Dollar Stimulus Bails Out Corporations, Not Workers

NYU economics professor Nouriel Roubini attacked federal stimulus legislation Sunday as a light on aid for workers. His remarks echo the response from several prominent Democrats, including Sen. Bernie Sanders, who is running for president in the Democratic primary, and Senate Minority Leader Chuck Schumer. Likewise, House Speaker Nancy Pelosi had objections to the Senate GOP’s fiscal stimulus bill:

We are beginning to review Senator McConnell’s proposal and on first reading, it is not at all pro-worker and instead puts corporations way ahead of workers.

Trillion Dollar Fiscal Stimulus Pro Corporation, Anti Worker

Meanwhile, Professor Roubini remarked Sunday:

“Trump now speaks of a $2 trillion fiscal stimulus. But a lot of it is smoke & mirrors that doesn’t help the average American. Too much of it is going to the large/middle sized firms, many that are cash rich & used previous bailout for share buybacks. Not enough going to workers”

But Nouriel Roubini should know a thing or two about massive federal bailouts during economic crises that benefit the wealthy. In 2009 he became the senior adviser to US Treasury Secretary Timothy Geithner in the Obama White House. Back during the 2008 Financial Crisis, then-Sen. Read More...