‘It’s a complete abomination’ says Wall Street money manager about hedge funds applying for bailouts from small-business recovery funds

Tha’s Nate Koppikar, a partner at Orso Partners, as quoted in a Bloomberg News article on Tuesday expressing his displeasure with the prospect of hedge funds claiming bailout money intended to help cash-strapped small businesses in the throes of a deep recession wrought by the outbreak of COVID-19.

Read:America should be ready for 18 months of shutdowns in ‘long, hard road’ ahead, warns the Fed’s Neel Kashkari Chamath Palihapitiya, chief executive of venture-capital firm Social Capital LP, last week argued that the Fed’s massive coronavirus stimulus package helps the ultrarich at the expense of ordinary American workers.

“Just to be clear on who we are talking about. We’re talking about a hedge fund that serves a bunch of billionaire family offices. Who cares? They don’t get the summer in the Hamptons?” Palihapitiya said. “Who cares? Let them get wiped out.”Bloomberg reported that some hedge funds already have applied for small-business aid, certifying that the “current economic uncertainty makes this loan request necessary to support the ongoing operations.

stevenmnuchin1 RepMaxineWaters JohnCornyn this should not happen period!!

sarahkunst Smh! Figures why most of small business didn’t 👀 funding Sad

Amir al-Mu'minin, peace be upon him, said : He who adopts greed as a habit devalues himself; he who discloses his hardship agrees to humiliation; and he who allows his tongue to overpower his soul debases the soul.

Wake up America you have been conned over 80% of the funds are going to hedge funds and real estate developer oh yeah the rest to the little fish of life🤡🤡🤡

GUILLOTINE2020

Somebody needs to teach them their job. Or take whatever consequence, like other professions! They are not special. This is ridiculous

Noooooooooooooooooooo!

Are you really shocked? TrumpFailure

Think there’s irony in the fact that hedge funds supposedly don’t have the liquidity for running operations . Avarice knows no limits

I'll just leave this here.

Eat the rich

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street tumbles as investors brace for dour earningsWall Street's main indexes slipped on Monday as corporate America launches into what is expected to be a painful quarterly earnings season due to the coronavirus pandemic. agreed From Good.
Source: Reuters - 🏆 2. / 97 Read more »

Wall Street analysts turned very bullish on these stocks during the pandemic market turmoilFor subscribers: Wall Street analysts turned very bullish on these stocks during the pandemic market turmoil Check out CNBCPro and get your first 7 days free. Pro it aint Coke tho
Source: CNBC - 🏆 12. / 72 Read more »

Wall Street analyst who called the 2018 rout says ‘don’t fight the Fed’ and ‘buy the dips’ is back on in this coronavirus-stricken stock marketMorgan Stanley’s chief U.S. equity strategist in a Monday research note, along with a team of strategist, including Adam Virgadamo, Andrew Pauker and Michelle Weaver, double down and even up their enthusiasm for equities in the aftermath of the pandemic that has rocked global markets and economies. When someone goes public saying 'don't fight the FED' you can tell how the markets are manipulated.
Source: MarketWatch - 🏆 3. / 97 Read more »

Small-Business Funding Dispute Challenges Community LendersCommunity lenders are having a tough time getting a piece of the $350 billion set aside under the SBA’s Paycheck Protection Program (Corrects an earlier tweet that said this figure was $350 million, which has been deleted)
Source: WSJ - 🏆 98. / 63 Read more »