NPR

Why The Crisis May Make Powerful Corporations Even More Powerful

As small businesses scramble for emergency assistance, big businesses get a new program of virtually endless lending from the Fed.
Source: Pixabay

Editor's note: This is an excerpt of Planet Money's newsletter. You can sign up here.

In early April, Bharat Ramamurti got a call from U.S. Senate Minority Leader Chuck Schumer's office, informing him that the senator was selecting him as the first member of what would become the five-member Congressional Oversight Commission. The commission, which was created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, oversees trillions of dollars in federal spending to rescue America from the COVID-19 crisis.

"I hurriedly went and updated my LinkedIn page because it said that I was still a student in law school, now reflects that he was, until recently, Elizabeth Warren's deputy policy director. It still doesn't mention, however, that his first job out of Yale Law School, in 2007, was an internship with the Boston Red Sox the same year they won the World Series.

You’re reading a preview, subscribe to read more.

More from NPR

NPR5 min readWorld
When Rockets Fall, Some Israeli Citizens Have Nowhere To Hide
While most buildings in Israel are required to have bomb shelters, a zoning catch-22 has left Bedouin villagers unprotected.
NPR3 min read
The Original 'Harry Potter' Book Cover Art Is Expected To Break Records At Auction
Sotheby's June 26 auction of Thomas Taylor's watercolor illustration for Harry Potter and the Philosopher's Stone is estimated to sell for $400,000-$600,000.
NPR2 min read
Mystik Dan Wins The Kentucky Derby By A Nose
In a close finish, Mystik Dan won the Kentucky Derby by a horse's nostril over Sierra Leone. Contenders waited with bated breath in the seconds before the official decision was made. The thoroughbred had entered the race with 18-1 odds — a longshot c

Related Books & Audiobooks