Exclusive: Top U.S. banks may shun small-business rescue plan on liability worries - sources

WASHINGTON - Top U.S. banks have threatened to give the federal government’s small-business rescue program a miss on concerns about taking on too much financial and legal risk, five people with direct knowledge of industry discussions told Reuters.

Seeking to help millions of small businesses whose operations have either shut down or have been dramatically curtailed by the coronavirus pandemic, Congress last week passed a $2 trillion stimulus package that includes $349 billion aimed at small firms. But representatives of some big lenders, in an industry conference call on Wednesday, expressed serious reservations about participating in the scheme in its current form.

peteschroeder DHenryReports Now they want to be cautious?

peteschroeder DHenryReports Start NOW, protect against fraud. Small businesses make America work and are vital to all neighborhoods!

peteschroeder DHenryReports They’re getting bailed out and they want to dictate terms ... such as no legal risk. Lol.. fkn criminals

peteschroeder DHenryReports Reserve requirements waived, they will pile money into their pet $ makers, and when they crash as well, they will just wait for the next bailout.

peteschroeder DHenryReports Top US banks aren't huge financial and legal risks at all themselves, so they can say that...?

peteschroeder DHenryReports At least the USA is closer to the end of capitalism

peteschroeder DHenryReports . has been allowed to remain in China, while the .nytimes .washingtonpost & WSJ were kicked out. Believe nothing from Reuters

peteschroeder DHenryReports how many fucking times have we bailed out the banks? time for them to be taken over by the government

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Top Chef Tom Colicchio Says America’s Restaurant Industry Needs An Additional $440 Billion Bailout To SurviveThe $2.2 trillion stimulus was a good start, says celebrity chef Tom Colicchio, but without a much larger bailout and a more flexible plan, the restaurant industry will fail. Perhaps Tom’s restaurant will fail, however, I doubt the “industry” will fail. Those businesses barely getting by will most likely not survive this crisis. Yeah tough time tough time every industry😊😊😊 Pivot and do home delivery, catering for full neighborhood, etc etc. zillions of ideas possible.
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