Tuesday, February 9, 2021

TODAY IN CRONY AMERICA: Biden and Yellen to Meet with Top CEOs to Talk Stimulus

Janet Yellen at Biden inauguration

President Joe Biden will on Tuesday meet with the chief executives of some of the country’s largest businesses in the Oval Office to discuss his $1.9 trillion Covid stimulus plan, reports CNBC.

Among those expected to meet with Biden and Treasury Secretary Janet Yellen are JPMorgan’s Jamie Dimon, Walmart’s Doug McMillon, Gap’s Sonia Syngal, Lowe’s Marvin Ellison and Tom Donohue of the U.S. Chamber of Commerce.

Though the exact agenda of the afternoon meeting wasn’t immediately available, the White House said that the group will review the “critical need” for Biden’s massive rescue plan that’s currently making its way through Congress.

This should be consider a sit-down of Biden-Yellen with crony America. Josh Bolten, president and CEO of the influential Business Roundtable, told CNBC last week that business leaders generally do not support conservative efforts to “whittle down” the size of the Biden plan.

Dimon, McMillon and Synga are members of the roundtable.

Bottom line: They are for big spending and more inflation because they know a good chunk of the money will find its way to their corporations first, long before it destroys the buying power of those on fixed incomes.



  1. Time to invest in a large-cap fund?

  2. And then the pirates repaired to their hideout to divy-up the loot and other spoils...