A Bailout for the Rich & Well Connected

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2020 Jun 14, 10:07pm   1,652 views  13 comments

by Misc   ➕follow (1)   💰tip   ignore  

The Paycheck Protection Program is basically a giveaway program to America's rich and well connected. The total dollar amount of the program is $660 billion. That is more than the yearly spending on America's military. This was the part of the CARES Act that was crammed through Congress despite warnings from some Democrats not to be hasty with the legislation. Enough coercion from senior Congress-critters muted efforts for strongly worded legislation as to who could benefit.

After being signed into law by the president, the mandated Inspector General was fired so there was no oversight as to the disbursement of funds. It was administered through the banks and there were plenty of reported transgressions. I'm sure laws were broken, fraud took place, but the peasants got their $1200 even as the rich and connected got millions.

Now the Treasury Department is saying they are not going to tell anyone who got the money...we just have to trust them.

Sometimes AOC is right.


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9   keeprubbersidedown   2022 Jul 10, 9:56am  

This is one big area I cannot support Trump on. Almost everything else Im in 100% but not this...
10   Tenpoundbass   2022 Jul 10, 9:58am  

Al_Sharpton_for_President says

On June 11, Treasury Secretary Steve Mnuchin told the Senate Committee on Small Business and Entrepreneurship that PPP loan recipients' names and loan amounts were confidential and would not be publicly released

If they did it would wipe out their donors, and put them all in prison.
11   Al_Sharpton_for_President   2022 Jul 10, 10:01am  

keeprubbersidedown says

This is one big area I cannot support Trump on. Almost everything else Im in 100% but not this...

The rushed out COVID gene therapies and his pro get the gene therapy stance.
13   Ceffer   2022 Dec 4, 11:39am  

Paul Pelosi received huge PPP benefits, so you can probably rest assured it was a form of graft from the get go. Maybe it was his slush fund when he was cruising the gay bars and pedo palaces.

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