British media: Trump“s policy to respond to the epidemic allows American rich to make a fortune

2020-10-20 00:03:52 0 Comment 2069 views
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US President Trump's policy in response to the epidemic has given the country's richest people a chance to make a fortune. According to the British "G

US President Trump's policy in response to the epidemic has given the country's richest people a chance to make a fortune. According to the British "Guardian" on the 9th, "Trump did not hesitate to let billionaires profit from the pandemic" as the title, during the epidemic, the number of people applying for unemployment insurance in the United States exceeded 50 million, while the wealth of American rich An increase of 637 billion US dollars.

British media: Trump“s policy to respond to the epidemic allows American rich to make a fortune

According to The Guardian, Facebook CEO Zuckerberg’s wealth increased by 59%, Amazon founder Bezos increased by 39%, and Wal-Mart’s Walton family increased by $25 billion. The heads and major investors of large pharmaceutical companies also earn a lot of money. Since the outbreak, large pharmaceutical companies have increased the prices of more than 250 prescription drugs, 61 of which are used to treat COVID-19. According to reports, the Trump administration has not strictly enforced the law prohibiting profiteering, price fraud, and monopoly, and it has ignored the laws prohibiting insider information trading, allowing some people to make a fortune.

The New York Times stated that insiders of at least 11 companies have sold stocks worth more than $1 billion after receiving inside information. At the end of June, the Trump administration chose Vaxart of the United States to develop a new coronavirus vaccine. The company’s CEO stock options increased from $4.3 million to more than $28 million.

reported that the most obvious example is Kodak, which is famous for producing film. On July 28, the Trump administration announced that it would grant Kodak a US$765 million loan in accordance with the National Defense Production Act, specifically for the production of raw materials for generic drugs. Kodak's stock price suddenly exerted force that day, soaring 203% throughout the day. The Guardian said that Kodak had granted stock options to executives and board members before the announcement. The day before Trump’s announcement, the company’s chief executive had allocated 1.75 million options. After Trump’s statement, Kodak’s stock price soared, and the company’s CEO stock options were valued at approximately $50 million.

The Wall Street Journal said on the 10th that the loan program has been suspended. The US Securities and Exchange Commission is investigating whether Kodak’s information disclosure is suspected of violations. Trump’s trade adviser, Navarro, was exposed to participating in these plans.

(Global Times)

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