JILL COLVIN and DEB RIECHMANN
Associated Press
WASHINGTON (AP) — President Donald Trump said Thursday the government should take an equity stake in some companies that need bailouts because of devastating effects of the coronavirus pandemic on the U.S. economy.
Trump told a briefing he has executive authority to curb the impact on businesses. "There's a lot of executive power," he said. "If we don't have to use it, that would be a good thing, not a bad thing."
Such a move could be an extraordinary reach by government into the private sector. He said he'd specifically target companies that did stock buybacks, rather than investing in infrastructure. Trump also said he'd back restrictions on executive bonuses and future buybacks from companies receiving federal support.
Trump reporte
