icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
28 Jan, 2020 14:40

Boeing a garbage company that is just a walking zombie – RT's Keiser Report

Boeing a garbage company that is just a walking zombie – RT's Keiser Report

US aerospace giant Boeing has secured commitments on over $12 billion in financing from more than a dozen banks, the media reported citing people familiar with the matter.

The company buys back their own stock with cheap money from the Federal Reserve, Max Keiser said on RT’s Keiser Report. The money which was supposed to help the struggling firm is in fact disenfranchising it. “On the other side are executives, who are getting that money from the Fed directly into their pocket..,” Keiser notes.

He says “Boeing now is no longer a viable company,” explaining: “So bad in fact that even money at zero percent is not going to help them recapitalize this garbage company now, Boeing, that’s worthless, essentially it’s insolvent.”

There are a lot of zombie companies in the S&P 500 that are like Boeing, he adds. “Executives stole all the equity passed through cash from the Fed at zero percent interest rates… and now they are just this walking zombie…”

For more stories on economy & finance visit RT's business section