Bill Ackman asks Trump to impose ‘extended spring break’ nationwide over coronavirus woes

Hedge-fund tycoon Bill Ackman fired off a tweetstorm to President Trump on Wednesday, proposing that the US impose a nationwide “extended spring break” to combat the coronavirus.

In a series of early morning tweets addressed to Trump, the activist hedge fund manager proposed that he “shut down the country for the next 30 days and close the borders,” in response to the ongoing COVID-19 pandemic that has ground the economy to a halt and crippled the markets.

“Tell all Americans that you are putting us on an extended Spring Break at home with family,” Ackman tweeted at 7:51 a.m. “Keep only essential services open. The government pays wages until we reopen.”

The 53-year-old billionaire went on to propose a 30-day federally mandated “rent, interest and tax holiday for all.”

Ackman, who declined to be interviewed Wednesday, also appeared to be advocating mandatory, shelter-in-place lockdowns for all American citizens to control the spread of the virus that reached 200,000 cases globally Wednesday morning, according to WHO data.

“With exponential compounding, every day we postpone the shutdown costs thousands, and soon hundreds of thousands, and then millions of lives, and destroys the economy,” Ackman wrote in a subsequent tweet.

“Please send everyone home now. With your leadership, we can end this now. The rest of the world will follow your lead. A global Spring Break will save us all.”

Ackman was early to empty out the offices of his Pershing Square fund in early March, and did notify investors that he was preparing to protect the fund from downside risk related to the pandemic.

Source: Read Full Article