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Such an important listen! Hear who got Paycheck Protection Loans and how few safeguards the Trump administration put in place to ensure the over US$800 billion went to small businesses that actually needed it to keep people employed during the pandemic. player.fm/1BTLyRKOn twitter.com
AaronGustafson
❤️ 2 Favorites Mood +3 🙂
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Did you know Ye got a loan? Tom Brady? Members of Congress like Matt Gaetz and Brett Guthrie? Lobbyists? And 97% of the 2020 loans were forgiven! Free money to the ultra wealthy with lax oversight.Permalink On twitter.com
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marketrealist.com/economy-and-politics/ppp-loan-forgiveness-congress/. And the few standards their were got eroded over time.Permalink On twitter.com
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Apart from folks many of us might consider “undeserving” of the loans, a UT Austin study found that “Around 1.8 million of the program’s 11.8 million loans – which accounts for more than 15% of loans – totaling over $76 billion had at least one indication of potential fraud.”Permalink On twitter.com
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Here’s an overview: frankonfraud.com/fraud-trends/new-study-15-of-ppp-loans-might-be-fraud/Permalink On twitter.com