Fed aid program for corporations won't require them to preserve jobs

In the best case the Fed would need to hold interest rates a 4%+ per year to compensate dollar holders for the loss of purchasing power. Prior to 2008 those benefits used to accrue directly to the government. The Federal Reserve purchased only Treasury bonds which would lower overall market rates for government bonds. In addition any bonds held by the Fed were effectively interest free as interest was returned to the Treasury.

In 2008 the Fed started to purchase mortgage bonds and other assets and later started to pay interest directly to banks. This is a direct transfer of purchasing power from dollar holders to homeowners and banks.

In this case look at the alternative if the Federal Reserve didn’t allocate those loans. The airline would go to court and file bankruptcy and losses would be allocated to equity holders and creditors. Those losses don’t magically go away because it isn’t easy to see who the losers are.

In general I don't believe the government is required to compensate businesses if regulation results in loss of business and possibly the loss of the business. As an example, look at CFC bans and fuel/emissions regulations. A company may suffer a loss and/or go out of business because of a regulation, but they can't demand compensation for that from the government.

Maybe our old system was inefficient and these dying companies should be left to die?

We can't say the same about people. Who are in fact in trouble, and a dying person is far more morally reprehensible than a company having to shut down.

Yeah, well, in Wisconsin under Walker, a lot of our farm families learned the hard way that this is not always the case. (Foxconn). It depends on how badly they want your land. But, yeah, it can be perfectly legal for the government not to pay you fair market value.

But to your central point, the government doesn't have to compensate you for anything in an emergency. That's why when criminals rob a bank or Walmart and then hide out in your home unbeknownst to you, the police are free to grenade the place. Perfectly legal for them to leave you the burning hulk of what used to be your house and say, "Don't thank us!" It was an emergency. (Or at least, they'll say it was.)

In the U.S. we also need to shift our consumption based economy to become more of a production based one, like we were 40 years ago. That kind of shift doesn't happen overnight.

Barking up the wrong tree is either virtue-signaling, divide-and-conquered tribalism, a failure of moral courage, and/or a failure of critical-thinking skills. It's easier for most people to make pointless gestures or scapegoat certain groups than attack the root causes of their misery... and there's no strategic thinking involved.

The obvious matter for everyone with a net balance sheet less than eight figures is that small segment of society whose greed and entitlement has greatly outpaced their respect and decency towards others and the planet. The vast majority of people are too afraid of the corporate state's militaristic violence potential or too complicit in relative comfort to rock the proverbial boat. In inverted totalitarian societies, you get deplatformed or harassed at airports; in totalitarian societies, 70-some students and teachers get delivered by the police to other criminal gangs for disposal in the hills.

All it takes is a million or so people walking over to the seats of power and gently encouraging the particular corrupt officials to voluntarily turn themselves over for jail pending trial.

I'm not a fan of mania for hope or future hockeystick progress, but it's the purposeful actions of moral and physical courage of a relative handful of unreasonable people who dent the universe. The worst that can happen is dying without trying; anything else is better than that.

"a significant majority of job losses, 67% nationally, were reported as temporary layoffs"

Sure the companies benefit, a lot. Warren Buffet might give them loans with 12% a year, the Fed at 3% or whatever. But what does the Fed lose? Nothing, if x% don't pay others will make up for it and USGOV will try to recoup from the failing biz whatever they can.

If they go bankrupt or downsize, what does USA gain, other than more unemployed people? So this is great IMO. Lend them money, as long as the money comes back, the Fed can create trillions and trillions.

I’m not sure the Fed has the power to do something like that. It’s a huge expansion in purview, particularly with adding forgiveness conditions, in which case it’s literally giving free money to private citizens without Congressional authorisation.

but of course if you offer it we'll take it