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BharatRamamurti's profile
Bharat Ramamurti
Bharat Ramamurti
Bharat Ramamurti
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@BharatRamamurti

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Bharat RamamurtiVerified account

@BharatRamamurti

National Economic Council Deputy Director; formerly @RooseveltInst, Congressional Oversight Commission, economic adviser to @senwarren.

Joined October 2012

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    1. Bharat Ramamurti‏Verified account @BharatRamamurti 18 Jun 2020

      The Oversight Commission has released its second report on what’s happening with half a trillion dollars of the public’s money. Here are highlights from the report--including some important admissions from the Treasury and the Fed in response to the Commission’s questions. 1/

      10 replies 203 retweets 340 likes
      Show this thread
    2. Bharat Ramamurti‏Verified account @BharatRamamurti 18 Jun 2020

      The big picture: the agencies have announced how they will use less than half of the $454B fund and actually used only $6.7B. That's worked out well for big corporations that benefit from the promise of action but less well for smaller companies and municipal governments. 2/pic.twitter.com/YyGNiJ3NfR

      4 replies 51 retweets 118 likes
      Show this thread
    3. Bharat Ramamurti‏Verified account @BharatRamamurti 18 Jun 2020

      Unemployment remains very high. The Fed said in response to our questions that it “designed the facilities to work together to protect financial stability and support achievement of its dual mandate of full employment and price stability.” Keep that employment goal in mind... 3/

      1 reply 19 retweets 87 likes
      Show this thread
    4. Bharat Ramamurti‏Verified account @BharatRamamurti 18 Jun 2020

      ...Because the only employment-related condition in these programs is the weak requirement for firms in the Main Street program to make “commercially reasonable efforts” to maintain payroll. But the Fed admits it won’t even monitor whether individual companies are complying! 4/pic.twitter.com/W7yAv086DA

      4 replies 65 retweets 170 likes
      Show this thread
    5. Bharat Ramamurti‏Verified account @BharatRamamurti 18 Jun 2020

      The agencies also admit the goal of buying old corporate bonds is to lower the cost of new bonds for big companies. But there’s also a Fed program to buy new bonds. So why broadly subsidize corporate bondholders by buying all those old bonds? 5/pic.twitter.com/qXFuh8sUh3

      2 replies 29 retweets 106 likes
      Show this thread
    6. Bharat Ramamurti‏Verified account @BharatRamamurti 18 Jun 2020

      The Treasury and the Fed have also committed to releasing all 2200+ comments they received about the Main Street program. We’ve asked them to release the comments in searchable form so the public can more easily review them. 6/pic.twitter.com/qREpOiJNBG

      3 replies 18 retweets 91 likes
      Show this thread
      Bharat Ramamurti‏Verified account @BharatRamamurti 18 Jun 2020

      The full report is available here. https://www.toomey.senate.gov/files/documents/Congressional%20Oversight%20Commission%20Report%20(June%2018,%202020).pdf … An important final note: 83 days after the passage of the CARES Act, the Commission still lacks a Chair and staff. We will continue to do our work, but these are serious obstacles to performing robust oversight. END

      8:16 AM - 18 Jun 2020
      • 54 Retweets
      • 157 Likes
      • John Panzer talmon joseph smith Linda M. Willis-Guarino. 🌊🐾❄️🍎💷🆘 Here for the Popcorn 🍿 PatriotDaughter Not Given Catherine Travelinshoooz Dr. B-funk
      3 replies 54 retweets 157 likes
        1. New conversation
        2. Gee Victor  ☮️ ☮️ ☮️ ❤ ❤ ❤‏ @VMadge 18 Jun 2020
          Replying to @BharatRamamurti

          @threadreaderapp unroll

          1 reply 0 retweets 0 likes
        3. Thread Reader Unroll Helper‏ @UnrollHelper 18 Jun 2020
          Replying to @VMadge

          Halo! here is your unroll: @BharatRamamurti: The Oversight Commission has released its second report on what’s happening with half a trillion… https://threadreaderapp.com/thread/1273634693062238209.html … Talk to you soon. 🤖

          0 replies 0 retweets 1 like
        4. End of conversation
        1. Anonymous‏ @Antonamouse1 18 Jun 2020
          Replying to @BharatRamamurti

          It's rubbish mate. Day light robbery on such a massive scale. WTF! Sorry if my last comment was a little unfair. . It's just so infuriating and frustrating. At least you are doing more than me. Keep up the good work Bharat. Keep up the good fight.

          0 replies 0 retweets 1 like
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        1. Theresa Crubaugh‏ @tcrubaugh42 20 Jun 2020
          Replying to @BharatRamamurti

          Thank you for the link!!!! Now I can read it all!!!! You're awesome!

          0 replies 0 retweets 0 likes
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