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Mexico’s President Has No Interest in Bailing Out Big Companies and Banks, Says the Poor Must Be Rescued

Mexico’s President Has No Interest in Bailing Out Big Companies and Banks, Says the Poor Must Be Rescued

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33 comments

  1. Although Mexico’s president may be drawing praise for siding with the economically disadvantaged over banks and businesses, he has also drawn criticism for downplaying the threat of the pandemic.

  2. But what is he actually going to do.

  3. Don’t believe this BS. AMLO said that he couldn’t get covid-19 because he carries two lucky charms with him.

    He refuses to order lockdowns. A lot of Mexicans are going to die because of him.

  4. I love the focus on the poor.

    though having zero concern about companies in your country, where your citizens could work is bad governance. Maybe that view is part of why Mexico has had such a poor economy for so long?

  5. Sounds nice on paper but letting banks go under is likely to have a substantially negative impact on poor people – even if not directly – probably far more than people themselves realise… Surely (hopefully) the president of a nation knows this. I guess some big companies might also fall into that boat but surely some are just corrupt and bloated with inefficiencies that letting them go under would be a positive externality

  6. I’ve read a report about gangs doing virus lock-downs in South American countries.
    Really curious what the cartels in Mexico will be doing about this.

  7. Of course, the populist idiot appeals to the support of the lower classes by promising shit he won’t deliver on, just to keep some face as the virus he refuses to address inevitably kills hundreds of thousands of the same people he vows to “rescue”.

  8. meanwhile in mexico amlo is saying the whole virus thing is a paranoia and telling people to live as usual and cure themselfs by hugs….

  9. Why is it that I have a hard time trusting Mexico’s President

  10. It would probably be an economist’s dream to have one set of data where they bail out corporations only, one set where it’s a mix, and one set where they bail out only the individuals/families and then measure the outcome and recovery times.

  11. With leaders like this who needs covid?

  12. right. so banks and big companies go under, and then literally fire everyone, and instead of a % of people getting let go, everyone gets fired. then ATMs stop working..

  13. I wouldn’t believe one thing that gobshite says. He thinks lucky charms will protect him from the virus. Fucking douche.

  14. This sounds exactly like what any politician would say during any period of adversity. Low hanging fruit. What else would we expect, „nah guy im not gonna help the poor”? They’re doing this for votes, after all.

  15. Every country on Earth besides USA: We must save our people.

    USA: Fuck the people. We must save our corporations.

    Can we apply to be a British colony again? At least they’ve gone full-on whole-country lockdown.

  16. In the meantime the government is literally building masses of banks.

    > In January, Amlo announced a plan to expand state-owned bank Banco del Bienestar by opening 2,700 new branches in underserved locations across Mexico by the end of next year.

    https://www.euromoney.com/article/b1klktqwt9s9fy/financial-inclusion-mexico-plans-a-bank-building-spree

    But with the objective of reducing poverty. Also to reduce the use of cash in Mexico’s society.

  17. Ah, so this is why the GOP hates Mexico… its all makes sense now ;D

    ​

    /s

  18. This guy’s a fuckin clown. Presidente Bozo

  19. The Mexican government couldn’t beat the cartels and literally handed over el chapo’s son. They are almost a failed state that can barely govern within its own borders. Corruption will squander the money.

  20. Yeah we’ll see how well that goes when all the people he “saved” have no jobs and slip even deeper into poverty. I don’t like big business but everyone needs a loan bailout for this.

  21. He is an idiot. He let the peso devaluate by refusing to open the treasury. Mexico’s industry is… not very diverse to say the least. We are totally dependent on commerce and imports. If the macroeconomy fails, everyone will feel it, even the poor people.

  22. He’s handled the virus horribly so far. This is propoganda.

  23. Countdown until the US sponsors a right-wing military coup?

  24. Is the CIA going to arrange a military coup to overthrow AMLO?

  25. This guy wants…votes.

  26. Theres a reason people are willing to risk life and limb to leave Mexico and ford a dangerous river to get the US.

  27. Do you think the Cartels will get bailed out?

  28. Capital floats up, it does not trickle down. Want to restart economy? Help the lower classes

  29. The reality is everyone and everything will need help.

    If these companies don’t get financial help then middle class people will lose their jobs and though not poor many do live paycheck to paycheck so in helping the poor and not businesses, then you obstinacy create more poor people.

    This isn’t a bailout due to corporate greed. The world in a moments notice shut down and we all need help to restart.

  30. Need to help both. If business closes down, they may be healthy enough to survive but lack cashflow in lean month, but if you let them die, you may not like what replaces them if any.

  31. Action not words, lets see if really does it.

  32. BRB, moving to Mexico.

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