Bill Ackman's plea to President Donald Trump to save U.S. from coronavirus' economic destruction

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Bill Ackman's plea to President Donald Trump to save U.S. from coronavirus' economic destruction

Bill Ackman's plea to President Donald Trump to save U.S. from coronavirus' economic destruction



Pershing Square Capital CEO Bill Ackman makes a plea to President Trump to shut the U.S. economy down.

Investor Bill Ackman urged President Donald Trump and corporate America in an impassioned plea on CNBC to shut down the country for 30 days to contain the fast-spreading coronavirus, calling it the only option to rescue the economy.

“What’s scaring the American people and corporate America now is the gradual rollout,” Ackman told Scott Wapner on “Halftime Report” on Wednesday. “We need to shut it down now. … This is the only answer.”

“America will end as we know it. I’m sorry to say so, unless we take this option,” he said. Ackman added that if Trump saves the country from the coronavirus, he will get reelected in November.

Ackman urged U.S. companies to stop their buyback programs because “hell is coming.” The biggest U.S. banks have already halted repurchasing stocks to put their capital to use helping consumers and businesses.

Worldwide coronavirus cases topped 200,000 on Wednesday, while confirmed cases in the U.S. have surged to at least 6,496. The Trump administration is working on a $1 trillion stimulus package to combat the impact of the virus, including sending out checks to the American people and providing financial relief to airlines.

“The hotel industry and the restaurant industry will go bankrupt first, Boeing is on the brink, Boeing will not survive without a government bailout,” Ackman said. “Capitalism does not work in an 18-month shutdown, capitalism can work in a 30-day shutdown.”

‘Tsunami’ is coming

The founder and CEO of Pershing Square Capital Management said he felt a “tsunami” was coming before anyone else raised a red flag about the outbreak.

“Beginning in late January I was getting increasingly bearish and I woke up with a nightmare,” Ackman said. “And my nightmare was you have this virus that replicates and infects incredibly rapidly.” He added his colleagues thought he was a “lunatic” when he took out cash from an ATM.

In the emotional interview, Ackman revealed he went into lockdown almost a month ago to save his father’s life who is immunocompromised.

“The only shared sacrifice that is going on right now is the health-care community, the nurses, the doctors, the people taking care of patients. Those people are making enormous sacrifices,” said Ackman. ”[The president] is not saying storm the beaches of Normandy right now, he’s saying go home, go home, spend a month with your family.”

In response to Ackman’s remarks on CNBC, a White House official said, “As President Trump has said, we are going to ensure that we take care of all Americans, including affected industries and small businesses, and that we emerge from this challenge stronger and with a prosperous and growing economy.”

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29 Comments

  • Posted on Mar 20, 2020 at 13:14 pm

    Billy boy is operating on emotion.. worst case 1-2 million plus people will die in the US. the rest will develop immunity, mostly even before the vaccine arrives. People will go on as business as usual..

  • Posted on Mar 20, 2020 at 13:34 pm

    So a virus that attacks elderly and people with respiratory problems :/ this isn’t good at all. I agree we need to shut down for a month and reset from there minus emergency personnel. Gov should make people stay home cover their utilities bills/ mortgage to help contain virus and just restart a month later this would help mitigate the virus

  • Posted on Mar 20, 2020 at 14:22 pm

    Fear mongering much?

  • Posted on Mar 20, 2020 at 14:33 pm

    I hope people know that this guy has been shorting the market for the past 10 weeks and is also one of the guys to jack up medication prices. This guy only cares about adding more 0’s to his bank account . Screw him

  • Posted on Mar 20, 2020 at 14:51 pm

    Well thats the goofiest thing I've heard… Stay in and order chipotle and call comcast and netflix workers to get back to work and The "I am Legend" chipotle server.

  • Posted on Mar 20, 2020 at 15:13 pm

    This guy is profiting very nicely from the collapse.

  • Posted on Mar 20, 2020 at 16:08 pm

    Coronavirus: "Blame millennials!" Lol! The modern default conclusion for everything wrong with the world.

  • Posted on Mar 20, 2020 at 16:10 pm

    Shut the world down for 30 days =
    Civil war in America

  • Posted on Mar 20, 2020 at 16:41 pm

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  • Posted on Mar 20, 2020 at 16:55 pm

    Oh no, I have to dump my PSH

  • Posted on Mar 20, 2020 at 17:38 pm

    Icahn: Hold my short squeeze.

  • Posted on Mar 20, 2020 at 18:39 pm

    i have 2 hotels ( small hotels – 46app) and i can survive 18 moths. i just don't have any debt …

  • Posted on Mar 20, 2020 at 18:54 pm

    NO. BAILOUT.

  • Posted on Mar 20, 2020 at 19:44 pm

    Bill is scared.

  • Posted on Mar 20, 2020 at 19:51 pm

    Make sure you guys get your masks to help prevent the spread of corona virus!
    https://getacoronavirusmask.com/

  • Posted on Mar 20, 2020 at 20:24 pm

    Congrats Bill on the big short. You need a handkerchief to wipe that. Great job! Bill is pack hooray!!!!

  • Posted on Mar 20, 2020 at 20:36 pm

    just shut it down and send those stim packs to us .
    Shut it down before we become Italy

  • Posted on Mar 20, 2020 at 20:37 pm

    Its up to 8% death rate now.

  • Posted on Mar 20, 2020 at 20:45 pm

    Just math? One million people dying? The vast majority of people are asymptotic. Warmer countries have lower instances of the virus and death. It’s starting to warm up and many people are developing immunity to it by recovering, so it will be harder to spread.

  • Posted on Mar 20, 2020 at 21:02 pm

    It is not killing young people. The 2017-2018 flu season killed young people and killed 60,000 people during that flu season. Check the numbers. We are not even close.

  • Posted on Mar 20, 2020 at 21:22 pm

    2020 human race: "We'll be fine."
    Charlton Heston: "Damn you. Damn you all to hell!"

  • Posted on Mar 20, 2020 at 21:25 pm

    future reference

  • Posted on Mar 20, 2020 at 21:25 pm

    Bill Ackman means save him ! More like it.

  • Posted on Mar 20, 2020 at 21:27 pm

    Poor guy, poor us !

  • Posted on Mar 20, 2020 at 21:42 pm

    No bailout with my tax dollar I rather give it to people that actually need it.

  • Posted on Mar 20, 2020 at 21:59 pm

    Bill Ackman said "okay" 100 times in 13 minutes wtf

  • Posted on Mar 20, 2020 at 23:30 pm

    Nobody: Will the real Slim Shady please stand up.

    Bill Ackman: “Stands Up” Ya’ll act like you never seen a swindler before…jaw on the floor like a mask-less man with COVID just walked through the door…

  • Posted on Mar 20, 2020 at 23:44 pm

    Impossible request as you cannot control 185 countries and this virus will live. We have not even control the common flu….I am sorry this will punch a hold through our way of life. He is buying stocks based on his request. A fool to think you can control other countries as this virus will continue to mutuate etc.

  • Posted on Mar 20, 2020 at 23:52 pm

    He sounds very anxious and financially scared. Possibly caught long and now stands to lose a lot of money. Valeant all over again.

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