Another wealthy 45 crony gets a “Get out of jail free card”, courtesy of a corrupt You can’t scare me I have three daughters shirt I hope the Judge sees it differently! Yep! sure! the nasty old FBI Tricked him into lying to them about his ties with Russia and Turkey. How devious of them. How does he explain that paycheck from Turkey? Poor, poor innocent Mikey! I was thinking about this from the start… Many small businesses had already laid off staff, and workers are not necessarily eager to return to work under a pandemic. Sales are down catastrophically for some businesses. Do not forget that these handouts to companies are paid for with your taxes, people. In 2008 they also got our money and they promised to be more socially and ecologically responsible, we all saw how well that went.
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Just like those corporations. I like You can’t scare me I have three daughters shirt. This is the stated purpose of the program. If a company accepted thousands or hundreds of thousands in lending without even that cursory diligence, the fault is their own. Even if they are forgiven, they still haven’t seen any solid guidance on whether or not the forgiven loans will be taxable. That could be a large bill. The bottom line is the government is not committed to seeing this through. We can’t plan for the future because we do not have confidence in their support. Many will bail out, sell out, default, etc just because of that uncertainty. They may decide in a month that they’ll do some more, but for many, it will be too little too late.