Topic: Bridge Loans

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Carbon Budget
Episode 1107 1:52:03 - 1:56:06

1107: Carbon Budget

Wilbur Ross, Bridge Loans, Media Ridicule

Commerce Secretary Wilbur Ross was widely ridiculed by media outlets like CNN and "Democracy Now!" for suggesting that furloughed federal workers take out bridge loans. Critics labeled Ross an "elitist rich prick" for his comments. However, Ross argued that because back pay was guaranteed by the government, banks and credit unions should provide liquidity to workers to prevent a financial crisis.