From CNN's Lauren Fox
Let’s just say it: The second launch of the Paycheck Protection Program didn’t go smoothly yesterday. In fact, lenders and small business owners who had hoped the kinks had finally been worked out in the intervening weeks since PPP ran out of money,System-wide slowdowns left lenders taking to Twitter to vent frustrations. Small business owners who have been waiting weeks to get their applications approved, may still be in the queue after some small lenders failed to get even a few dozen applications uploaded.
Several industry sources pushed back that the pacing mechanism was the sole reason the system was unreliable. Instead, arguing the issue was that SBA’s system was simply not equipped to handle the volume despite multiple promises to congressional aides and industry that the system would be ready to go this time.It is worth repeating, SBA has never in the history of the agency lent the kind of money they are responsible for getting out the door right now.
It would normally take SBA years to lend the more than $660 billion they are kicking out right now. Aides on the hill hearing about frustrations from constituents and bankers are keenly aware of the fact that the system has not worked smoothly, but at the end of the day, the entire U.S. Senate present to vote for the program, did.
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Shameful! Fine them big time!
Who gave them the checks. Doesn’t this administration ever take responsibility for its actions?
Seriously This has to be a joke?
Trump companies and Trump supporters’ companies include in audit also ...,
Will Main Street USA shuts down & goes bankrupt. It won’t end here either. So over this crap. Begging for help & we get none. It’s so unbelievable on these large corps & basketball, colleges give the money back so it can go where it’s truly needed.
Too little & much too late for those suffering in limbo. cluelessadministration
Will these funds go back into the system for those truly needing it?
Monchichi knows the cash went flying out the door to big corporations. Are we really supposed to believe that he's not feeding his friends? Bitch, please.
Ooooh, an audit, they really are threatening them.
Why did you allow it in the first place you butt head
He seems not to want to take any responsibility for this fiasco that he actually is responsible for and blame everyone else....just like his idiot boss does. These Trump people are the saddest thing America has ever produced - no class no brains no qualifications and arrogant
Mnuchin gave it to them. Did he not know who got the money?
If Mnuchin Knew how to do his Freaking Job, maybe those Big Companies wouldn't have gotten the Money in the First place! Put in place the Guidelines of who does & who does qualify as a TRUE Small Business....
Why was there no vetting of loan applicants? Could it be that Trump favorites got the money? CRIMINAL!
What is the approvL process that allowed that to happen?!
OversightMatters
He's the idiot that made all this possible and now he's backtracking. What an ass.
Time to audit the US State Governors in the bankrupt states
Why the hand-out in the first place? Not in charge? 🦠🦠🦠😢🦠
Audit, audit, AUDIT!!!
Thank you!!
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What about your boss and his children?
That’s rich coming from a guy who more than likely has taken so many kick backs and bribes under the table that he’d make senatemajldr blush
Your in charge Mnuchin you should’ve put in Safe Guards from Big Business to apply for these Loans! It’s your Fucen Job just do it correctly!!
Maybe prohibiting large corporations from applying for these loans should have been your first priority.
GET THE MONEY BACK!!!! What’s wrong with you people
Audit Trump while you’re at it.
Maybe the Audit should start with his boss
How about also taking the money back from all your buddies on Wall St and Banking. Hypocrites. Lskers gave it back. Will they?
He helped craft the bill with huge loopholes and Trump made sure no oversight. No fake admonitions now.
Time to audit the US State Governors in the bankrupt states !
But didn’t the banks have to approve the loans or does it fall strictly on the SBA for approval?
Im appalled at the Lakers..disgraceful!!!
Please .... you all set this program up in a way they could get the money. It became public and you all got caught. The guidelines for this money was loose in way that helped the big guys and hurt the little guys. ALL parties are guilty of letting this through.
Well the Lakers gave it back, others not so. Maybe Mr. Mnuchin should take better care of who he is dolling the checks out to.
Umm...why does the system even allow such fuckery?
HE’S responsible as well as the orange impeached one!!! Congress put checks and balances in place for a reason and now tax payers have to pay for another f**king investigation. At least this kind of corrruption will end once we have a president back in OUR house!
It figures, only California would do something like that, and the Lakers of course!
I ask again. It takes two parts to get money. The applicant and the approver. Shouldn’t the one approving these loans have to answer
stevenmnuchin1 You guys don’t set up proper guidelines on how or whom this money should go to, and it’s their fault?!
I thought Trump was going to be the oversight.
The Lakers needed so extra balls.
Great! Audit those over paid sunsabitches.
An audit? 🤣🤣🤣🤣 That's code for NO FUCKING THING will come of it. Trump's audit is still ongoing remember?
I won't hold my breath for an audit unless it's against somewhere that can be weaponized to help Trump.
Firing people are usual way to protect themselves but mistakes keeps repeating and people are suffering not them
This man is Evil
On the first place it should be carefully checked of the goverment who supposed to get a Paycheck Protection. Do these people make a list who’s and who’s not .. I knew this is like trap and using people whose suffering
Disgusting. And it's the tip of the iceberg. I suspect those funds were rampantly abused. No worries....we and our grandchildren will pay off that debt.
Shouldn’t the criticism be directed at those approving and granting the loans to those that don’t need it. Aren’t there eligibility requirements?
Still have not received my $1200.00 😏
I have no doubt Trump brand products will take a bail out as well.
This goes to show you how greedy and selfish people truly are. It's disgusting. The SBA controls the release of these funds. I blame the people within and the head of it for mishandling of funds. They need to be fired. Monies need to be returned.
He also said they are only reviewing loans $2M and higher. Why not all of them?
seems like there should have been oversight i just can't believe what is going on THAT MONEY IS OUR MONEY
It's his program. So much stupidity and incompetence.
Is this a Nazi?
Perhaps there should have been checks and balances. Novel thought.
Ya Right, while under His guidance the Senate gives obscene amounts of $ to..... REALESTATE DEVELOPERS! Really, STFU mnuchin!
Live look into the board room of these companies. Like anything is going to happen to them anyways...
Then why wasn’t it written so it went to the right people? Oh right. Trump
1st Audit should be all of Trumps businesses.
If there is no rule to prohibit such behavior, then it's legal.
This government is fucking stupid lol
~ ummm… why were they approved?
Did Mnuchin forget to define small before giving away the money?
So dangle the carrot, when they take a bite, hook them. You know who should undergo an audit - your boy trump.
Isn’t this the same guy that dodged multiple questions about the missing stimulus checks?
Sure let’s start with all those companies you funnel money to while small businesses SUFFER. 👎🏻 smells/see double crooked from top to bottom
Why was that even allowed? The US has no competent agencies because there's no competent leadership in power.
So the guy in charge of distributing the funds doesn’t agree with how they were distributed?
You mean he has developed balls!
Loook who’s talking things should have been in place to prevent that. SMH
Check all of Trump’s businesses especially hotels. BTW when the Chinese come calling for the $ Trump owes on his Avenue of the America’s hotel don’t give them a nickel. Let the Chinese take it from Trump who borrowed mobey from the Chinese to finance it as he never has his own $
realDonaldTrump is looking to recover his losses by funnelling some of the 500B to himself. Follow the money...and the company paper trail. DonaldJTrumpJr is in on this as well.
The Lakers returned the money.
Sure they will.
That man needs some blackhead nose strips
How did you let that happen? Where are the checks and balances?
Must be a Knicks fan
Three questions: 1. Where is the list of companies that got paid by PPP? 2. Who is going to audit this list? 3. When?
U should also be audited and actually disbarred bugs bunny
Hope they audit realDonaldTrump and family too.
Yeah, so let's audit trump too...
Gee, wouldn’t some oversight been helpful? Why did no one think of that? (For Trump’s benefit, this was actual sarcasm on my part, this is what sarcasm looks like)
So why in hell did Mnuchin let it happen
Audit them. I know you won’t do it.
So Sunland?
Well do they have 500 employees or less? Mitch and company totally raised the total number of employees to that number so they could qualify. Audit 🤷🏽♀️👌🏽 🤣😂
Lakers gave that money back once they received it
I'm sure Mnuchin and impeached realDonaldTrump took full advantage of the rules to avoid taxes.. (probably a big reason he is fighting disclosure of taxes). These guys are taking advantage of the rules. Thankfully unlike you some of them have a a soul.
This guy is in charge of this stimulus program
WHAT about all the TAX BREAKS THEY got last year?
Treasury Secretary Mnuchin y’all started this mess. The high One percent always did a way to get money. If you don’t believe asked Senators Mitch McConnell.
That’s cool, but this guy also said that $1200 is supposed to last you 10 weeks
GOOD!
It would help if there was any oversight!!!!
While you at it, audit the DT buddy companies applying as well
witty_krypton 😊
Leave it to LeWhine James...he probably supported it since he runs the LA Fakers
Surely these pieces of legislative mastery could have been written in such a way so as to prohibit this misuse -- for example, imposing a dollar limit based upon 'modified adjusted gross income' or a similar useful factor.
Maybe the treasuries handling is what should be criticized. Had you had requirements in place, it wouldnt have went to companies that didnt need it.
This turtle needs to focus on releasing trumps tax returns.
Good ✅
If his “audit” takes as long as Trump’s tax audit, there will be a long wait.
KARMA is a Mfcker & it’s COMING 💯
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First baby steps on the way to realizing that companies aren't actually looking out for people.
How about the trump organization? 😂
Idiots hand out money and are upset people take it.
The Democrats wanted oversight and strict criteria attached to all funds so they'd go to the appropriate recipients and this wouldn't happen. But that would also omit these kinds of 'favors' to Trump's buddies so, no rules.
Imagine if there had been some oversite in the bill, maybe there would be some people dictating who can and can’t receive money. They are complaining about these people while their own vested business are doing the same. Fuck this administration.
Wasn’t it your administration who gave out the loans? Do you not know who is getting them? And listening to MoscowMitch whine that the funds deleted. Take the fall SenateGOP
Maybe if there was some sort of oversight of a $350,000,000,000 program...
stevenmnuchin1 AKA ForclosureKing says what?
I dont understand how the hell the US government could make the application process so wide open that this happened. It's like a bank leaving their vault open and then getting upset when people help themselves to the cash.
Didn’t lakers give it back?
So Mnuchin doesn't know who is getting money Who the hell is running this place. Don't answer that.🤦♀️
Didn't your boss say 'I'll be the oversight' when he removed the Inspector General?
Um, you could decline their applications.
Hmmm ... recall an ask for some Oversight but it was removed.
Why was it not managed? Incompetance - more blaming!
After the fact. Try being proactive not reactive. In a system driven by greed they act surprised by the greedy.
Who’s approving these loans?
Didn’t Lakers return it?
AUDITS SHOULD BE BEST PRACTICE BUSINESS AS USUAL, NOT POLITICAL THREATS
And THEY didn't want oversight on their cash handouts. Would be comical if not so enraging. So now we care who gets help? And the filthy rich take advantage? Shocking. Fuck this joke administration. They all got here by doing horrible shit as bad or worse.
Riiiight Steve.
If only there was some oversight this wouldn’t have happened........oh right, Republicans got rid of it.
Mnuchin shudda prohibited it in the program.
Maybe...just maybe...if Trump hadn't slashed oversight, this wouldn't have happened.
Makes you wonder how long these huge companies have been given 'help' until we've noticed it now. They usually get to sneak through but times are changing. Mnuchin is just as likely to have made sure they got hooked up
Says this guy.
mmcintire Horse meets closed barn door. There isn't anything that these dopes can't totally fuck up.
mmcintire He should check Trump's companies!
And the rich get richer!
Whoever has their name on the letter regarding the stimulus payments should be sued.
Have you ever just looked at someone and had an inclination they were a total douchebag?
Did he administer the program?
The lakers have no shame
reverse flash!
Secretary Munchkin will get to the bottom of this. The great thing about fixing your own screw-ups is that you know where you screwed up.
He should criticize the crappy oversight of his administration
The Democrats were pushing for oversight and were made to look like they were needlessly delaying stimulus money from the American people. Does anyone else REMEMBER that🤔🤨🤔🤨🤨🤨🤨
Audit the system that let that happen! And the people! Oh wait some of those got fired! Seems like Mnuchin is learning his his blame game skills from someone.Go get them ewarren.
Fix the system that allowed them to get the loans.
There has been piss poor governance on the qualifications and distribution of PPP. There are stricter guidelines and stronger qualification practices at a local payday loan store! The banks are being incentivized to distribute PPP funds so they are making it rain, making millions
Lacked planning, man should lose job not audit in the future. Small business hurting today. Guess who they will vote for in November, thanks doing your part to get rid of Trump.
Who could imagine that people would actually TAKE the money. We never anticipated that.
Somebody make a list of these companies that don’t need the money but took it anyways.We A’s Americans will boycott their asses.greedyamerica
Audit the corporate thieves who already stole from the small business people during the first round of PPP
They will face an audit, just like Trump is. OH NO, NOT AN AUDIT...
It is a publicity stunt. It will be remembered as such. People are dying and struggling to eat and keep a roof over their head. GIANT CORPORATIONS like the Lakers actually think they are entitled to money from the government. You raked in plenty to live on. Shut up.
Did you really expect anything different?
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