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I guess we now know why the white house didn't want to share what businesses got sweet PPP loans

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Don't forget the Church of Scientology, a Dallas megachurch, and we're likely helping Trump pay off some of his debt. I also believe there's a company that got a loan for 7x what they were worth.

Just draining the swamp.

These bailouts and the 08 bailouts were more generational robbing of the American public. Look at how wall street and their cronies have increased their wealtb substantially during the pandemic. The American tax payer paid 10s of thousands in future taxes for these bailouts, while the richie rich rich made out like gonnifs. For the 10s of thousands each of is paid, we recieved checks for at best $1,200. Fools gold.
 
What's the ratio? Around five to one or more?

.

I don't know the raw numbers. I'm not a party person. What I know is a bunch of political elites got paid off by all stripes. A bunch of failing startups got multimillion dollar bailouts. A bunch of wall street bimbos got paid off. Federal reserve is providing cheap debt to otherwise failing companies. American public got peanuts. This is a very crooked system. I'm no socialist, but this is serious abuse.
 
The whole thing was put in place to try to buy an election.....it was a farce from get go.

The stimulus checks or what?

The whole thing was put in place and manipulated by lobbyists to get their interests whatever they desired. Hint: they work for the top .1%.

No one even read the thousands of pages. The anount of pork in there was unreal.

But hey, you got a check for $1,200. Have you paid attention to your local prices? Skyrocketing.
 
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Of course there are stipulations. If stipulations aren’t followed, considered a loan. Payments deferred for a short period of time w/ interest rate of 1%.
60% of the forgiven amount has to be used for payroll.

Please correct me if I’m wrong and I probably am, but the stimulus checks and PPP were two separate bills passed by senate. Back in May almost 2 million small businesses received this loan.

It’s not as if Trump waved a magic wand and it was to be. This took many, many people to vote and ultimately pass the bill.

Out of curiosity, do you think Trump and his family are the only political figures in DC that own a business or received PPP loans?
 
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The stimulus checks or what?

The whole thing was put in place and manipulated by lobbyists to get their interests whatever they desired. Hint: they work for the top .1%.

No one even read the thousands of pages. The anount of pork in there was unreal.

But hey, you got a check for $1,200. Have you paid attention to your local prices? Skyrocketing.
And who asked for oversight but didn't get it, and who had oversight?
 
And who asked for oversight but didn't get it, and who had oversight?

Honestly, oversight is mostly bullshit. It just sounds good, but amounts to nothing in practice. What's oversight without teeth? The ICC.

Checks are already cashed. Lobbyists literally wrote these bills and they got in every provision they could possibly muster.
 
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It's not only the pubs. Bunch of dems got paid off too. Our political elites are rotten to the core, as are our coporations.

Could well be true. The difference, IMO, is that the GOP types listed here are the very people that went out of their way to complain about the "payouts" that average, ordinary people received. I don't think you'll find that's true of the Dems who got funds, but if you see an example that disproves that by all means post it...
 
The stimulus checks or what?

The whole thing was put in place and manipulated by lobbyists to get their interests whatever they desired. Hint: they work for the top .1%.

No one even read the thousands of pages. The anount of pork in there was unreal.

But hey, you got a check for $1,200. Have you paid attention to your local prices? Skyrocketing.

Uh I didn't get a check....some people make enough that they didn't qualify. What's sad is there is a bunch of morons wearing MAGA hats that think that 1200 is a lot of money. Dumb bastards.
 
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Of course there are stipulations. If stipulations aren’t followed, concerned a loan. Payments deferred for a short period of time w/ interest rate of 1%.
60% of the forgiven amount has to be used for payroll.

Please correct me if I’m wrong and I probably am, but he stimulus checks and PPP were two separate bills passed by senate. Back in May almost 2 million small businesses received this loan.

It’s not as if Trump waved a magic wand and it was to be. This took many, many people to vote and ultimately pass the bill.

Out of curiosity, do you think Trump and his family are the only political figures in DC that own a business or received PPP loans?

Why did Repubs refuse oversight of the loans? I and most (if not all) on here agree that anyone on the political spectrum who inappropriately applied for and received loans should be outed.

Betsy Devos, billionaire and Sec of Ed, received $6M in loans to add another name. Just draining dat swamp.
 
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Why did Repubs refuse oversight of the loans? I and most (if not all) on here agree that anyone on the political spectrum who inappropriately applied for and received loans should be outed.

Betsy Devos, billionaire and Sec of Ed, received $6M in loans to add another name. Just draining dat swamp.
Dems are no better in this regard. Silly to think otherwise. They’re largely cut from the same cloth. You don’t see Dems pushing for term limits, or salary reductions during the pandemic do you? Hell how long was trump a democrat? Republicans and Dems are in league together as politicians.

On the topic of racism though it’d be interesting to see how minority owned businesses made out. I suspect there were unique challenges for same.
 
Dems are no better in this regard. Silly to think otherwise. They’re largely cut from the same cloth.

Guess we should vote for the two Senators who have made public statements in response to these loans - Warren and Bernie :) If we want accountability, we need to start somewhere, right?

And it would be interesting to see the number of minority owned businesses who received loans. The information provided so far only includes businesses that received over $150K. From what I read earlier today, 80% of the loans were below that amount but if you had multiple businesses, you could receive multiple loans.
 
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Could well be true. The difference, IMO, is that the GOP types listed here are the very people that went out of their way to complain about the "payouts" that average, ordinary people received. I don't think you'll find that's true of the Dems who got funds, but if you see an example that disproves that by all means post it...

yabut yabut yabut
 
Why did Repubs refuse oversight of the loans? I and most (if not all) on here agree that anyone on the political spectrum who inappropriately applied for and received loans should be outed.

Betsy Devos, billionaire and Sec of Ed, received $6M in loans to add another name. Just draining dat swamp.

I agree whole heartily, should absolutely have oversight. I don't understand Trumps position on this one. Again, there are thieves and personal gain on both sides of the isle.

The difference, these loans can be forgiven. In which case, taxpayers pick up the tab. If a business applies for a traditional banking loan, it’s no business of mine how/why they need the money or how the spend the money. If they default, they more than likely pay for that in the end. When they borrow from Uncle Sam and what turns out to be free $ that you and I have to pay for, well, that’s when it becomes my business.
 
This is a list of businesses that took loans..... from banks..... the govt hasn't paid out a penny.

You'd be a malfeasant business person to turn down a 1% loan when the economy is more or less shutdown.

Further down the road businesses can apply for loan forgiveness if they can document the funds were mainly used to fund employee payroll. There are a bunch of other hoops to come in the future.

But don't let any common sense or facts get in the way of a good IGW level populist uniparty rant.
 
This is a list of businesses that took loans..... from banks..... the govt hasn't paid out a penny.

You'd be a malfeasant business person to turn down a 1% loan when the economy is more or less shutdown.

Further down the road businesses can apply for loan forgiveness if they can document the funds were mainly used to fund employee payroll. There are a bunch of other hoops to come in the future.

But don't let any common sense or facts get in the way of a good IGW level populist uniparty rant.
Thank you. As much as I'd like to join in the outrage fest, there's nothing here -- yet. There will be plenty of time for that when it's determined which of these "undeserved" "bailouts" is forgiven.
 
Thank you. As much as I'd like to join in the outrage fest, there's nothing here -- yet. There will be plenty of time for that when it's determined which of these "undeserved" "bailouts" is forgiven.

I believe the biggest issue with the PPP is that our country's, yes I'll use the phrase, systemic racism will clearly demonstrate that those businesses that enjoy advantages, were rewarded with the stimulus loans, while many less established (privileged) companies were left unsupported. Banks that processed the loans focused on their most important customers. That's understandable. So we'll probably see the data reflect that the underserved business communities received far fewer PPP loans. In other words, the rich get richer.
 
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I believe the biggest issue with the PPP is that our country's, yes I'll use the phrase, systemic racism will clearly demonstrate that those businesses that enjoy advantages, were rewarded with the stimulus loans, while many less established (privileged) companies were left unsupported. Banks that processed the loans focused on their most important customers. That's understandable. So we'll probably see the data reflect that the underserved business communities received far fewer PPP loans. In other words, the rich get richer.


That was true out of the gate..... but as we sit here today there is still over $130b in unused funding commitments sitting there. Anyone operating any legit business could walk into a bank and get one today. It appears that demand has dried up....as there is now debate starting over what to do with the unused money.
 
Could well be true. The difference, IMO, is that the GOP types listed here are the very people that went out of their way to complain about the "payouts" that average, ordinary people received. I don't think you'll find that's true of the Dems who got funds, but if you see an example that disproves that by all means post it...

I'm not a partisan, though I won't be voting for any Republican in the foreseeable future. While I agree that it's worse when someone preaches one thing while doing the other, I'm just generally pissed at the state of our crony capitalism. I don't see a wide gulf between most Ds and Rs on wall street and corruption issues. One group is comprised of hypocrites, the other just does it quietly.
 
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That was true out of the gate..... but as we sit here today there is still over $130b in unused funding commitments sitting there. Anyone operating any legit business could walk into a bank and get one today. It appears that demand has dried up....as there is now debate starting over what to do with the unused money.

Hasn't demand fallen because some companies shut down or laid employees off. If you don't maintain employment levels, the loan is not forgivable. Not sure it's a good business practice to take out a loan when your business is failing. Unfortunately, the pandemic has devastated some industries while others continue to thrive.
 
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The billionaires and country clubs that received small business loans from the government

Billionaires, country clubs, private jet companies and Kanye West all received millions in government funding under the Paycheck Protection Program, according to the Small Business Administration.

The PPP loans and grants were part of the $2 trillion CARES Act, which President Donald Trump signed into law this spring. The loans were designed to help small businesses hurt by the coronavirus pandemic to retain or rehire employees. Yet according to a list of individuals and companies that received loans or grants of more than $150,000, recipients included large companies and billionaires that had access to other sources of capital and have recovered quickly from the pandemic.

Soho House, the exclusive membership club controlled by billionaire Ron Burkle, received loans totaling $9 million to $23 million by applying for seven loans through its New York, Miami Beach, Chicago and West Hollywood locations. Last month, Soho House raised $100 million from private investors, including Burkle, that gave the company a valuation of $2 billion — equal to its pre-pandemic valuation.

All together, more than 400 country clubs and golf resorts received PPP funding.

#MAGA
 
This is a list of businesses that took loans..... from banks..... the govt hasn't paid out a penny.

You'd be a malfeasant business person to turn down a 1% loan when the economy is more or less shutdown.

Further down the road businesses can apply for loan forgiveness if they can document the funds were mainly used to fund employee payroll. There are a bunch of other hoops to come in the future.

But don't let any common sense or facts get in the way of a good IGW level populist uniparty rant.



perhaps you should explain to them how it's all going to trickle down.
 


The billionaires and country clubs that received small business loans from the government

Billionaires, country clubs, private jet companies and Kanye West all received millions in government funding under the Paycheck Protection Program, according to the Small Business Administration.

The PPP loans and grants were part of the $2 trillion CARES Act, which President Donald Trump signed into law this spring. The loans were designed to help small businesses hurt by the coronavirus pandemic to retain or rehire employees. Yet according to a list of individuals and companies that received loans or grants of more than $150,000, recipients included large companies and billionaires that had access to other sources of capital and have recovered quickly from the pandemic.

Soho House, the exclusive membership club controlled by billionaire Ron Burkle, received loans totaling $9 million to $23 million by applying for seven loans through its New York, Miami Beach, Chicago and West Hollywood locations. Last month, Soho House raised $100 million from private investors, including Burkle, that gave the company a valuation of $2 billion — equal to its pre-pandemic valuation.

All together, more than 400 country clubs and golf resorts received PPP funding.

#MAGA


Country clubs don't have employees to pay?
 
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Country clubs don't have employees to pay?

Why don't these businesses have enough savings from the tax cuts to cover for this down period? We can only assume they were giving out bonuses and raises like crazy.

Sorry, I know that's not a entirely realistic argument but that's sort of how I feel about this situation. Did they REALLY need the loans? That seems to be the problem.
 
I’m curious to hear more about the money the Catholic Church received that apparently aggregated north of a billion dollars. A fleecing of where the money went would be interesting as catholic schools are closing all over - after the dioceses received the dough.
 
Why don't these businesses have enough savings from the tax cuts to cover for this down period? We can only assume they were giving out bonuses and raises like crazy.

Sorry, I know that's not a entirely realistic argument but that's sort of how I feel about this situation. Did they REALLY need the loans? That seems to be the problem.

many to most country clubs really are small businesses, and no doubt needed help like other small businesses.
 
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