Billionaire says the Fed should prioritize citizens over hedge funds. Image: Random Sky on Unsplash
Virgin Galactic chairman: Fed should give $500,000 to all Americans
Chamath Palihapitiya says the Federal Reserve shouldn’t pump billions of dollars into “rich CEOs and boards that have horrible governance.”
Liam Frost, Decrypt, Apr 10, 2020
https://decrypt.co/25171/virgin-galactic-chairman-fed-should-give-500000-to-all-americans
Chamath Palihapitiya, the CEO of investment firm Social Capital and chairman of spaceflight company Virgin Galactic, has argued that the US government and the Federal Reserve should not bail out hedge funds and billionaires during the coronavirus crisis.
“On Main Street today, people are getting wiped out. Right now, rich CEOs are not. Boards that have horrible governance are not. People are,” Palihapitiya told CNBC’s “Fast Money Halftime Report.”