Trump administration defends $62M bailout to crooked Brazilian meatpacker

[Miigwech]

Source: New York Daily News | May 16, 2019



The Trump administration on Thursday defended its $62 million bailout to a Brazilian meatpacking company controlled by a pair of corrupt brothers, arguing the private pork payout will eventually trickle down to struggling U.S. farmers.

Food industry watchdogs were baffled that JBS USA, owned by shady food industry titans Joesley and Welsey Batista, have their snouts so deep in an American bailout money pot, even though it’s designed to support American farmers hit hard by President Trump’s trade war.

But the Department of Agriculture said it doesn’t matter the funds went to the Brazilian bad boys — both of whom have confessed to bribing hundreds of top officials in their home country — because the program was designed to subsidize “approved vendors who have proven they can procure” products made in the U.S.

“This means that regardless of who the vendor is, the products purchased are grown in the U.S. and benefit U.S. farmers,” a spokesperson for the department said in a statement to the Daily News. "JBS qualifies as a bidder under this criteria. This is similar to someone buying JBS bacon in a grocery store.

Read more: https://www.nydailynews.com/news/politics/ny-trump-defends-bailout-brazilian-bacon-grocery-batista-hogs-20190516-hj2gpi5h4jejve63cqac5atcn4-story.html

[PSPS]

1. LOL. Now we have the "trickle down" graft and corruption theory!

[mpcamb]

12. Any chance it'll wind up in the pocket of pres. Jair Bolsonaro?

[Marcuse]

2. Internationale Socialism

[LiberalLovinLug]

11. Yeah, I always thought they were about something else

[mr_lebowski]

3. I suppose this could make some logical sense as long as their pork is US Sourced ...

I would be keen to know however the actual value of the amount of US pork JBS USA purchased from our farmers with the $62M? Was it $60M worth? Or, like $5M worth, the other $57M going to the Corporation?

And BTW, what happened to the $62M worth of pork products our Government bought with our tax dollars?

Are there any sorts of, I dunno, REGULATIONS with regards to how handouts of this sort, and the products we collectively buy with them ... are managed?

Or can the Trump regime just kinda go "Oh Hai, Republican Donor Companies?!? Want some free Pork?!? Well, not FREE, exactly, if you know what I mean, nudge nudge!"

[sandensea]

5. To say nothing of a $56 BILLION bailout of Argentina.

Not directly; but by way of an IMF stand-by loan which the IMF's board recommended against as "unsustainable" - which which was rammed through, according IMF South America Director Roberto Cardarelli, on Cheeto's explicit orders.

Argentina, governed since late 2015 by neo-con (and longtime Trump pal) Macri, is currently going through a debt crisis not unlike the derivatives crisis that led to the Bush crash in '08.

It's also, I should note, very much like the 1981 debt crisis caused by dictatorship-era banking deregulation - another regime backed by the GOP and its media outlets.

Trump is doing this because elections in Argentina are 5 months from now, and the hard-right Macri is down in the polls by 10% or more (and with 24% job approval).

Trump (and Macri) believe that merely by stabilizing the peso until October, Macri might be re-elected. But this ignores the elephant in the room: that Macri has pushed Argentina into a severe recession.

Suffice it to say, Argentina will not be able to repay the IMF under the current terms (within 4 years). This will be the case whether or not Macri is re-elected.

[riversedge]

6. Trump administration showers Brazilian crooks with $62M bailout money meant for struggling U.S. far

Trump administration showers Brazilian crooks with $62M bailout money meant for struggling U.S. farmers
By Chris Sommerfeldt
| New York Daily News |
May 16, 2019 | 4:20 AM


https://www.nydailynews.com/news/politics/ny-trump-defends-bailout-brazilian-bacon-grocery-batista-hogs-20190516-hj2gpi5h4jejve63cqac5atcn4-story.html

................

The sheer size of the payouts stoked outrage from industry watchdogs, who question how subsidizing a deep-pocketed, Brazilian-owned company would help farmers in the American heartland.

“Why is the USDA bailing out plants operated by JBS, the largest meatpacker in the world, with a program designed to help domestic companies and producers under economic duress?” said Tony Corbo, a lobbyist at Food & Water Watch, noting that the meat giant reported a net income of $273 million for the first quarter of 2019.

[Bernardo de La Paz]

7. How many children school meals would that pay for? . . . nt

[Wellstone ruled]

8. Just so those who do not know what JBS USA is,

it is Swift Meat Products as well as Ekredge Meat and Sausage Company. BTW,the last E-Coli outbreak came from their Meat plants known as Colorado Beef Company. This is the largest Beef Processor in the Nation at this time.

[McCamy Taylor]

9. How much bribe money did Jared pocket for this?

Six million? Investing in the Trump Family pays well.

[Bayard]

10. Where's the beef? (for those who remember that ad)

tRump is afraid he could lose his Big Mac's.