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Treasury Secretary Steve Mnuchin calls for private schools with large endowments to return small business loans

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'It has come to our attention that some private schools with significant endowments have taken #PPP loans,' Mnuchin wrote on Twitter, 'They should return them.'

The New York Times

The now $660 billion tax-payer funded program designed to help small businesses during the novel coronavirus pandemic has been subject to public criticism over which businesses are worthy of federal aid. The assistance effort created to help businesses with fewer than 500 workers resumed Monday after lawmakers introduced another $310 billion into the program after the initial $349 billion ran out.

Several big companies, including the Los Angeles Lakers and Shake Shack, have returned federal aid after public outcry over qualifying for small business loans via a loophole that allows businesses with fewer than 500 employees in a location to receive the funds.

 

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It's almost like the Executive Branch made a mess out of the enforcement of this law. Providing it to businesses that have relationships with large commercial banks. If this had been the Obama administration rollout, the din would have been deafening.

When Narcissistic Vanity Speaks

This shouldn’t have occurred in the first place

Harvard isn’t going to return the money.

What about public schools with huge and profitable football programs?

Greed knows no bounds.

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Mnuchin sends top deputy to fix small-business loan messTreasury Secretary Steven Mnuchin has tapped his most trusted lieutenant to help guide the $670 billion small business loan program that's intended to save millions of jobs during the Covid-19 pandemic Bullshit. IT's all going to Wall Street, just like most of the other stimulus money. And they in turn will use it for their projects in China.
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