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Paycheck Protection Program is Full of Corruption

serfserf Member Posts: 9,217 ✭✭✭✭
in Politics
Another government giveaway of helicopter Money as The Republic crumbles with socialism giveaways. It will just get worst under The Biden administration. The America Empire is nothing but a rotten core now.
                                       serf
        

The watchdog counted tens of thousands of companies that received PPP loans for which they appear to have been ineligible, such as corporations created after the pandemic began, businesses that exceeded workforce size limits (generally 500 employees or fewer) or those listed in a federal “Do Not Pay” database because they already owe money to taxpayers.

Tens of thousands of organizations also appear to have received more money than they should have based on their headcounts and compensation rates, it said.

The Treasury Department in September received 2,495 suspicious activity-reports involving business loans from banks and other depository institutions, more than the total for any year dating back to 2014, according to public data.


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Comments

  • serfserf Member Posts: 9,217 ✭✭✭✭
    us55840 said:
    Exactly ... some get hundreds of thousands of dollars in 'loans' only on their signature .. no collateral at all... and are next to zero interest rate.  Bad.
      It's even free,you don't have to pay it back at all either, I doubt you even pay taxes on it, it's done all to save the so called  phony service economy America has now.There is no true capitalism anymore.It's all socialism now.
                                                     serf

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