Who Deserves a Bailout?

Squawk Pod

CNBC

Business News, Business, Investing, News

4.2 • 543 Ratings

🗓️ 16 April 2020

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Former Administrator of the 9/11 Compensation Fund Ken Feinberg warns Americans to avoid drawing parallels between the Covid-19 pandemic and previous crises in history. He explores the moral hazard of supporting an economy reeling from an unexpected tragedy. Chairman of IAC Corp. Barry Diller expects the U.S. to come back to life in six months or possibly longer, but to get there, he says Americans will have to overcome their fear. In the meantime, everyone should get a bailout. Plus, Joe, Becky, and Andrew discuss what it will take to reopen the country and to keep it running.

Transcript

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0:00.0	This is Squawk Pod. I'm C NBC producer Katie Kramer today on our podcast
0:05.1	Who Deserves a bailout? It seems that every 10 years we have some type of
0:10.5	of disaster we seem to be under prepared because even in the best of times we spend
0:16.0	more than we even have.
0:17.0	Ken Feinberg known for his work on the 9-11 Compensation Fund on the moral hazard in shoring
0:22.3	up the U. the US economy.
0:23.4	We are not well prepared.
0:25.4	We don't anticipate tragedies like this.
0:28.9	And MediaMogel Barry Diller does see opportunity,
0:32.1	but it's in the very long term.
0:34.0	I don't think it's until probably September, October, November, December.
0:38.6	Really get life back.
0:40.7	The fear is the next thing that's going to have to fall.
0:45.0	It's Thursday, April 16, 2020.
0:48.0	Squawk Pod begins right now.
0:50.0	Good morning, everybody. I'm Becky Quick along with Joe
0:52.6	Hermann and Andrew Ross Sorkin. Welcome to Squawk Bowser.
0:55.6	First up on today's podcast another release from the Labor Department
0:59.2	revealed over 5.2 million Americans filed first-time unemployment claims in the last week.
1:05.0	It's a little lower than the claims of the previous two weeks, but not by much.
1:09.1	This report brings the total of unemployment filings to about 22 million Americans and wipes out almost
1:14.9	all of the jobs created in the US since the Great Recession. As coronavirus
	...

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