NBA not sure if they can pay players after April 1: https://www.espn.com/nba/story/_/id/28933602/nba-pay-players-full-salaries-april-1-uncertain-after
Who’s ready to see Players become overdramatic
Nbpa Greedily expects full season of payments paid https://www.cbssports.com/nba/news/coronavirus-nbpa-expects-players-to-be-paid-in-full-during-hiatus-despite-cba-provision-per-report/
This is ridiculous, it's not like the players are refusing to play without reason!
How can the NBA blame the players for this? This doesn't make any sense.
I'd hope that these rich selfish owners aren't getting their wish to withhold money from the players, who again are NOT at fault.
no one is blaming the players
There’s no money coming in, therefore no money to be payed. It’s all laid out in the contracts the players probably don’t even read
The NBA should guarantee all salaries and contracts until the end of this crisis. That would be the right thing to do instead of fining the players for not playing. The banks can compensate the owners for their eventual losses.
Can't believe that in these dark times the NBA is more concerned about their money than the wellbeing of the people and players under their care. Disgusting.
What's next? Putting staff on the street, because their worthless right now?
They wouldn't be fining players. They would be implementing a provision in the CBA that the players agreed to. The players aren't children and they've already been paid for most of the season. Don't know why you would think banks would compensate the owners.
In the Netherlands our prime minister has announced that all firms that suffer financial losses during this Corona crisis will be compensated accordingly by the Dutch banks, such that we won't have bankruptcies or people getting fired unnecessarily.
Our government has stated that now is not the time to talk about money or politics. Only thing that matters is our public health and the necessary measures to contain this virus.
The Greek prime minister announced similar measures as well. Thing is, most small businesses in Greece (my home country) were already facing bankruptcy. You can't give a bankrupt entity more loans. All you achieve this way is making them even more bankrupt! Remember the Greek bailouts from 2010 to 2015? This is the same story all over again, only this time for the private sector.
Obviously, the Netherlands aren't Greece. Having said that, I don't think that bank loans are the way to go. The EU (and the whole world) is about to face a huge economic crisis once again. Here's an alarming statistic I've read regarding Greece, which is indicative of the situation in the world economy as well. Assuming the Greek GDP drops 50% this month, 25% in April, 25% in May and makes a full recovery in June, Greece's GDP for 2020 is gonna suffer a fall of 10%! Again, an annual fall of 10% based on just 3 months! Greece lost about 27% of its GDP over a period of 9 years because of the imposed osterity by the EU (the biggest loss ever recorded during peace time) and we are about to lose 10% in just 3 months! This is mind-boggling! If you guys think that your country (the Netherlands, the US, you name it) is gonna escape from this, well think again. It's 2008 all over again, if not even worse.
Imo, what we should do (the US/the EU, not just Greece or the Netherlands) is what Hong Kong did a few days ago. The central bank of Hong Kong gave each citizen 10,000 HK dollars (=$1,289) via a deposit in their bank account. No questions asked. Just take them and spend them. You want another example? Look what happened in Singapore. The government of Singapore invested 5% of the country's GDP in public health, tourism and transportation. They didn't give loans to the private sector. The government paid all this money. At the same time, the central bank of Singapore ordered all banks under its jurisdiction not to collect loan installments from small businesses and households. The central bank is gonna be paying those installments on behalf of small businesses and households for 5 months. Btw, we're not talking about some leftist/socialist/communist/stalinist government. Singapore has a neoliberal government, yet they decided to take preemptive measures in order to tackle the upcoming recession. Fwiw, Australia had done a similar thing in 2009 in response to the 2008 crisis. If you ask me, this is part of the reason why Australia never faced a serious crisis at the time, unlike most countries of the western world.