1 CA Issues "Stay At Home" Order
“Quarantine” – it’s not just for California seniors anymore. The governor of the Golden State has issued a statewide order for people to stay home to slow the spread of the coronavirus. As Governor Gavin Newsom sees it, more than half of the people in California, that's over 25-million people, could be infected with the illness. Does that mean “lockdown?” Not exactly. Folks will still be allowed to do essential tasks like going to the store, picking up medicine and going for walks. Newsom also says law enforcement won’t be enforcing the order, instead he believes that social pressure (ie shame) would regulate behavior. Meanwhile, President Trump is resisting calls to activate his emergency war powers to boost production of medical supplies and protective gear. He told a briefing that governors are "supposed to be doing a lot of this work” and added "the federal government's not supposed to be out there buying vast amounts of items and then shipping." Trump announced this week that he has invoked the Defense Production Act and will use it if necessary.
2 Four Senators Accused Of Selling Off Stocks Ahead Of Coronavirus Crash
If true, a pretty cynical case of “do as I say, not as I do.” According to reports, four Senators - three Republican and one Democrat – are being accused of selling off millions of dollars worth of stocks ahead of the economic meltdown caused by the coronavirus. All while reassuring their constituents. “ProPublica” reports North Carolina's Richard Burr, who is the Senate Intelligence Committee chairman, sold off stocks worth as much as one-point-seven-million-dollars in the weeks after being briefed about the magnitude of the coronavirus threat. But also: According to the “Daily Beast,” Georgia Republican Kelly Loeffler dumped as much as three-million-dollars worth of stocks starting in late January. Those shares were owned jointly with her husband...the chairman of the New York Stock Exchange. And then there’s California Senator Dianne Feinstein, one of the longest serving Democrats on Capitol Hill. The New York Times is reporting that Feinstein sold between $1.5-million and $6-million in stock in a biotech company between January 31st and February 18th. Rounding out the group – Oklahoma Republican Sen. James Inhofe. The “Times” reports that he sold as much as $400-grand on January 27th. The holdings included PayPal, Apple and Brookfield Asset Management.
3 Senate GOP Unveils Massive Coronavirus Stimulus
Senate Majority Leader Mitch McConnell is outlining a four-part plan to help the U.S. economy during the coronavirus pandemic. McConnell say the bill being worked on would support small businesses, give direct financial help to all Americans, help industries of national importance, and get more resources out to help fight the COVID-19 outbreak. McConnell said the plan would also use an existing program to inject cash so small businesses can pay workers and their bills. He said the money will be grants if the companies do that. He said the money to industries of national importance is not a bailout. Senate Minority Leader Chuck Schumer is calling for urgent and bold action to combat the COVID-19 situation, but that it must be a “workers first” stimulus package – not what McConnell is suggesting. Schumer says in the GOP plan, corporations come first. Democrats want to make sure no one loses a paycheck because of what’s happening.