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GOOD MORNING, MASSACHUSETTS. TGIF.
BARNEY FRANK: YOU ARE UNINFORMED AND SHOULD JUST SHUT UP IF YOU DON'T UNDERSTAND THE ISSUES SURROUNDING CORONAVIRUS! AS A CONGRESSMAN, I MISTAKENLY BELIEVED YOU WERE DOING A GOOD JOB WHILE YOU WERE GENUFLECTING TO BIG BANKS AND THE CORRUPT CORPORATE DNC AND YOU CONTINUE TO DO SO.
FRANKLY, FRANK, YOU GOT IT WRONG!
FRANK TALKS CORONAVIRUS ECONOMY — The coronavirus pandemic is already reshaping the U.S. economy. In Massachusetts alone, 20,000 people filed for unemployment in a single day this week, and the state's newly-established $10 million small business recovery loan fund closed to applicants after only a few days, according to a MassLive report.
As Congress scrambles to address the unfolding financial crisis, I called former Rep. Barney Frank, who was chair of the House Financial Services Committee during the 2008 financial crash and an architect of the 2010 Dodd-Frank Act that reformed the financial industry.
In Frank's view, lawmakers are doing the "best possible job" to pass an economic stimulus package in the face of a sharp partisan divide in Washington, and that cutting checks to ordinary Americans is a good idea as an "interim measure." He cautioned against allowing share buybacks. But looking back at the last financial crash, Frank said there are key differences between what happened in 2008 and what's going on now.
"Last time there was resentment, because last time, the crisis was caused by some people doing bad things. Nobody's done anything bad here. There are criticisms that some people haven't done enough good things, but there's no blame here. No human act caused this or caused it to spread, and that makes it easier," Frank said. "You don't run into the question of 'Are you rewarding people who misbehaved?' This is not a case of misbehavior. Everybody's an innocent victim in this situation."
One lesson lawmakers should take from 2008, the ex-congressman said, is how they communicate with the public about corporate bailouts, especially as the economy grinds to a halt and the airline industry and others ask for help. Frank said he's been in touch with a couple of his former colleagues who serve now on the Financial Services Committee.
"We didn't do enough to make it clear that there were some restrictions and there were paybacks from the [Troubled Asset Relief Program], the public didn't understand. So the one lesson I get is that it is very, very important that you make clear what limitations and paybacks you're putting on aid to corporations, not to individuals, but to the corporations," Frank said.
We're still at the very beginning of what could be a lengthy, unprecedented disruption of ordinary life to battle the coronavirus. I asked Frank how dire the economic situation in the United States could become over the next several months.
"What's the point of answering that? This isn't a game. It's not like Jeopardy or the Price is Right. I don't know. Nobody really knows. But the point is this," Frank said. "It's bad enough now, it could be bad enough, so we have to do everything we can to fix it. How that will end, nobody knows."
Have a tip, story, suggestion, birthday, anniversary, new job, or any other nugget for the Playbook? Get in touch: smurray@politico.com.
TODAY — Boston Mayor Marty Walsh is a guest on WGBH's "Boston Public Radio." Rep. Lori Trahan holds a tele-town hall with health experts Jody White, Dr. Dan Berlowitz, and Dr. Ashish Jha.
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GO GLOBAL ... FROM HOME: Global Translations, presented by Morgan Stanley, serves as your guide to understanding the global issues that impact us all without having to travel further than your inbox! You'll learn more about the power players and trends shaping our planet in ways you can apply to your own work and life. In the latest edition, author Ryan Heath ties together the global response to the ongoing coronavirus outbreak and the ways it's affecting 2020 election season in the United States, the health and financial crisis in Italy, and more. SUBSCRIBE TODAY.
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 | DATELINE BEACON HILL |
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- "Trump Told Governors to Buy Own Virus Supplies, Then Outbid Them," by Jordan Fabian, Bloomberg: "President Donald Trump's directive for governors to buy their own medical supplies to fight the coronavirus has run into a big problem -- the federal government. Massachusetts Governor Charlie Baker told Trump during a video conference on Thursday that his state three times lost out to the federal government on purchases of critical supplies, creating an awkward moment during the made-for-TV event at Federal Emergency Management Agency headquarters in Washington."
- "Baker says 'enormous increase' in coronavirus testing is coming; confirmed case tally rises to 328," by Martin Finucane, Travis Andersen and Andrew Ryan, Boston Globe: "Governor Charlie Baker pledged Thursday morning that Massachusetts would soon see an "enormous increase" in testing for coronavirus as he acknowledged that the state's capacity to screen people remained far below what was needed to blunt the local impact of the pandemic. Hours later, the state Department of Public Health announced that the number of confirmed coronavirus cases in the state had risen to 328 from 256 the day before."
- "Coronavirus response: National Guard activated in Massachusetts to add manpower for growing crisis," by Steph Solis, MassLive.com: "The Massachusetts National Guard is activating up to 2,000 members to assist the state in its response to the coronavirus, an official confirmed Thursday. The activation takes effect Thursday, said Don Veitch, public information officer of the Massachusetts National Guard. Veitch said he didn't know exactly what the guardsmen will assist the state with, where their efforts will be concentrated or how many of the 2,000 will be called upon at first."
- "Nurses: Baker should deploy National Guard to hospitals," by Christian M. Wade, The Salem News: "The state's largest nurses union is calling on Gov. Charlie Baker to deploy the National Guard at hospitals and take other aggressive steps to support front-line medical workers as they battle the new coronavirus. In a letter, the Massachusetts Nurses Association praises the Baker administration for moving quickly to contain the spread of the virus but spells out a litany of requests aimed at protecting nurses and other medical staff as they brace for an expected surge of infected patients."
- "Legislature Plans to Postpone March Special Elections," by Matt Murphy, State House News Service: "House and Senate leaders plan to postpone four special elections scheduled for the end of the month, and will pass legislation on Monday to give cities and towns increased flexibility to delay local elections planned for the spring and allow voting by mail. Senate President Karen Spilka and House Speaker Robert DeLeo both announced Thursday afternoon that they would take up an elections bill on Monday."
- "Dental precautions gain endorsements, but hygienists want mandate," by Elaine Thompson, Telegram & Gazette: "The state Department of Public Health has endorsed recommendations from the Massachusetts Dental Society calling for nonemergency procedures to be postponed, to lessen the spread of the coronavirus. But the president of the Massachusetts Dental Hygienists Association said a mandate is needed to stop some dentists who are still putting hygienists and patients at risk."
- "Mass. Among 17 State Legislatures Meeting Through Pandemic," by Colin A. Young, State House News Service: "Of the 35 state Legislatures that were in session when the global coronavirus pandemic became the focus of most government activity and daily life, just less than half continue to conduct business in some capacity through the outbreak. Massachusetts is among the 17 states to press on in the face of the rapid spread of COVID-19, according to the Council of State Governments, and the legislative agenda has shifted nearly exclusively to prioritize coronavirus response efforts."
- "What does a shelter-in-place order actually look like?" by Nik DeCosta-Klipa, Boston.com: "Officials say there are no plans for a 'shelter-in-place' order in Boston or Massachusetts in response to the coronavirus outbreak. The concept evokes perhaps-alarming images of the type of lockdown enforced in parts of China to deal with the coronavirus outbreak. But as it has been carried out in the United States, how much different would a shelter-in-place order be compared to the rules already in effect in the Boston area?"
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| FROM THE HUB |
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- "China investigating ex-Biogen employee who fled there while sick with coronavirus," by Mark Arsenault and Hanna Krueger, Boston Globe: "A statistician who was working in Massachusetts for Biogen Inc.,the sponsor of the now infamous Boston meeting at the epicenter of the state's COVID-19 outbreak, is being investigated in Beijing for allegedly flying to her native China while sick, not disclosing her exposure to coronavirus to the airline, and covering up her fever with drugs, according to reports in Chinese-based media."
- "Citywide 'lit-drop'— a campaign season staple— planned for Saturday," by Katie Trojano, Dorchester Reporter: "It's long been a staple of political campaigns in the city of Boston: Volunteers going door-to-door with literature promoting candidates and seeking votes. On Saturday, the Walsh administration will re-boot the old-school 'lit-drop' to get out vital COVID-19 information across the city. The Mayor's Office is assembling an army of volunteers to bring an informational pamphlet, accessible in seven languages, to every property in Boston in a single day."
- "Local activist provides free meals," by Yawu Miller, Bay State Banner: "Next to the Grove Hall post office, a queue stretches back 20 yards as families wait in line for backs of takeout food supplied by the nonprofit group Violence in Boston. On the menu Wednesday: American chop suey lunches and spaghetti dinners. Violence in Boston Executive Director Monica Cannon Grant says she was inspired to start the free meals program when she realized Boston Public Schools were about to shut down."
- "Coronavirus: Suffolk District Attorney Rachael Rollins to release inmates vulnerable to COVID-19 and who pose no 'meaningful risk' to public safety," by Tanner Stening, MassLive.com: "Suffolk District Attorney Rachael Rollins plans to release inmates who may be vulnerable to coronavirus in an effort to protect the incarcerated and the public, her office said on Thursday. Rollins says her office is working to release those in custody who pose 'no meaningful risk to public safety.'"
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| DAY IN COURT |
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- "Lawyers in Columbia Gas settlement seek early payout," by Christian M. Wade, Gloucester Daiy Times: "Lawyers who handled the $143 million settlement of a class-action lawsuit against Columbia Gas of Massachusetts are trying to get that money out more quickly to people who've now been affected by both the September 2018 gas disaster and coronavirus shutdowns. The settlement, which includes thousands of dollars of lump-sum and itemized payments for gas disaster victims, was approved Friday by Superior Court Judge James Lang."
- "Concern About COVID-19 Spikes Among Immigration Attorneys As A Boston Courtroom Is Closed," by Shannon Dooling, WBUR: "Concerns over exposure to COVID-19 are increasing among Boston's immigration attorneys after one of the courtrooms in Boston abruptly closed earlier this week. Susan Roses, an immigration attorney based in Lynn, was in Boston's immigration court Wednesday when she says immigration Judge Jennifer Mulcahy took it upon herself to close her courtroom."
- "Only 6 guards affected by 'unauthorized memo,'" by Jack Sullivan and Sarah Betancourt, CommonWealth Magazine: "An unauthorized and now rescinded memo initiating a moratorium on suspensions and disciplinary hearings for correction officers to ease staffing concerns during the current coronavirus crisis would have only affected six guards in the state's prisons, according to the Department of Correction. The low number - the state has a total of 3,500 correction officers — raises questions why Michael G. Grant Sr., a deputy commissioner at the Department of Correction, wrote the memo in the first place."
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| DATELINE D.C. |
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- "Colleges plead for bailout amid coronavirus losses," by Deirdre Fernandes, Boston Globe: "Empty dormitories, canceled recruiting tours, cratering endowment investments — the coronavirus has turned college campuses into ghost towns and sent a financial tremor throughout the industry. On Thursday, colleges and their lobbying groups urged Congress to include an estimated $50 billion in any federal coronavirus stimulus package for higher education institutions and their students."
- "Coronavirus: Senators Ed Markey, Elizabeth Warren urge Massachusetts banks, credit unions to waive fees amid COVID-19 emergency," by Benjamin Kail, MassLive.com: "As Massachusetts residents contend with the COVID-19 outbreak and its economic impacts, Sens. Ed Markey and Elizabeth Warren have asked the largest banks and credit unions in the state to waive a host of fees to provide relief for customers. The senators sent letters to 19 financial institutions."
- "Sen. Warren, Mass. Delegation Urge Federal Government To Restock Hospitals With Protective Gear," by Gabrielle Emanuel, WGBH News: "Members of Massachusetts' congressional delegation sent a letter to the federal government Wednesday evening urging action in remedying the shortage of protective health care gear, like masks, many local hospitals are facing. The senators and representatives, led by Sen. Elizabeth Warren, want more information about when a shipment of more protective equipment from the Strategic National Stockpile (SNS) can be expected at Massachusetts hospitals."
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| IT'S NOT EASY BEING GREEN |
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- "Residents call for halt to compressor station construction," by Jessica Trufant, The Patriot Ledger: "Residents opposed to a natural gas compressor station being built on the banks of the Fore River want construction stopped amid the COVID-19 pandemic, which has brought much of the country to a halt. Fore River Residents Against the Compressor Station called on the Federal Energy Regulatory Commission and the U.S. Occupational Safety and Health Administration to suspend construction of the Weymouth compressor station, to help slow the spread of the virus."
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| ABOVE THE FOLD |
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— Herald: "WAR FOOTING," — Globe: "Ex-Biogen worker accused of flying to China while ill"; "Baker activates National Guard." |
| FROM THE 413 |
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- "Social distancing guts Berkshire hospitality industry," by Clarence Fanto, Berkshire Eagle: "The county's hospitality industry is taking a severe hit from the coronavirus pandemic, with a sharp decline in reservations and hundreds of layoffs, with many more anticipated. 'The impact is enormous, it's unprecedented, there's no playbook for this,' said Sarah Eustis, CEO of Main Street Hospitality, partly owned by the Fitzpatrick family, which operates the iconic Red Lion Inn in Stockbridge."
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| THE LOCAL ANGLE |
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- "Inside the state's first large-scale drive-through coronavirus testing facility," by Kay Lazar and Andrew Ryan, Boston Globe: "Dozens of CVS nurses, pharmacists, and technicians, and specialists from the US Public Health Service had been scurrying around a massive CVS parking lot since 5 a.m. Wednesday, erecting a series of blue tents and one circus-sized white one. They unpacked boxes of face shields, swabs, and hazardous waste bins. They practiced safely donning and removing gowns and face masks, and collecting nasal swabs from patients."
- "Medical facilities struggle to follow social distancing," by Jon Winkler, The Lowell Sun: "Of the many guidelines recommended by the Centers for Disease Control and Prevention regarding the coronavirus, one that's frequently mentioned is social distancing through isolation or staying about 6 feet away from others in public. Two local medical facilities didn't seem to follow that practice on Thursday."
- "Dirty dollars? SouthCoast restaurants cleaning, sanitizing, handling cash with gloves, encouraging online orders," by Curt Brown, SouthCoast Today: "Restaurants are having employees wear latex gloves when handling currency and encouraging customers to order meals online to avoid touching cash as their challenge with the COVID-19 health crisis continues. The sanitation and cleanliness safeguards are meant to protect everyone's health after Gov. Baker's decision to restrict restaurant business to take-out service only and ban sit-down dining to promote social distancing."
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| MEDIA MATTERS |
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- "Berkshire Eagle Publisher Discusses Staff Furloughs During Pandemic," by Josh Landes, WAMC: "On Tuesday, the Berkshire Eagle announced that each member of its staff would take a week-long furlough as the daily Pittsfield, Massachusetts-based paper takes a financial hit during the COVID-19 outbreak. On Thursday, New England Newspapers, Inc. President and Publisher Fred Rutberg spoke with WAMC Berkshire Bureau Chief Josh Landes about the move, which is accompanied by a reduction in the size of the physical publication and the expansion of the Eagle's online content."
TRANSITIONS - Neal Litvack, a Red Cross exec, will be the next president and CEO of the Massachusetts Society for the Prevention of Cruelty to Animals. Link.
WELCOME TO THE WORLD - Patrick Bench, president of Benchmark Strategies, and Natalia Bench welcomed their daughter Alessandra Monica Bench on Thursday. Pic.
HAPPY BELATED BIRTHDAY - to Wilnelia Rivera of Rivera Consulting, Inc., who celebrated yesterday.
HAPPY BIRTHDAY - to Karlee Fain.
HAPPY BIRTHWEEKEND - to Saturday birthday-ers Ryanne Olsen of Emerge America, and Shane Dunn, senior director of development and alumni relations at Brandeis International Business School. And to Sunday birthday-ers former state Rep. Tom Sannicandro, Daniel Sullivan, RIPTA Capital Planner Zachary Agush, and the one and only Larry Farmer.
DID THE HOME TEAM WIN? The home teams are not playing.
NEW EPISODE: HOME ALONE - On this week's Horse Race podcast, hosts Jennifer Smith and Stephanie Murray speak with state Rep. Jon Santiago and Boston City Councilor Michelle Wu about the coronavirus pandemic. Subscribe and listen on iTunes and Sound Cloud.
Want to make an impact? POLITICO Massachusetts has a variety of solutions available for partners looking to reach and activate the most influential people in the Bay State. Have a petition you want signed? A cause you're promoting? Seeking to increase brand awareness among this key audience? Share your message with our influential readers to foster engagement and drive action. Contact Jesse Shapiro to find out how: jshapiro@politico.com.
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