Schumer, Warren demand investigations of small business loans

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Chuck Schumer, Elizabeth Warren and other Dems are calling on government watchdogs to investigate the $670 billion small business rescue program that Congress replenished with funding this week, amid concerns that large companies got too much of the money

"We supported the program and the extension of funds because small businesses are facing dire needs," Warren and Rep. Nydia Velázquez said in ato the SBA and Treasury inspectors general. "But now that the program has been replenished, Congress and the Administration have a responsibility to ensure that these funds are helping the businesses they are designed to help, and that they are being distributed consistent with the law and without waste, fraud and abuse.

"During this national emergency, all banks should open their doors to all small businesses in this time of need," Schumer , the Senate minority leader, said in aRestaurant group J. Alexander's Holdings on Friday was the latest big company tothat it was returning loans from the Paycheck Protection Program. It had been approved for $15 million in loans across two subsidiaries.

 

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Main Street certainly didn’t see any of it if you need $10 Million you’re not a small business

Too late

Did you idiots read the bill before voting yes? If so you are part of the problem

HiFelicia210 This could have been stopped before it started with oversight. People don’t have stimulus money yet. Almost a month since Congress passed the bill. USTreasury stevenmnuchin1

OHccMe And I would like to have a list of those companies plz

You can’t fix stupid.

Why was a tax break for the top1% included in this package?

Great, but first,et’s get UBI in place.

SenSchumer SpeakerPelosi

Close the loophole

Yep, the Democrats tried to stop it but the Republicans had to make sure their favorite got the most (as usual).

I hope they are not true. I have heard several horrid stories of fraud and misuse of funds. This citizen agrees with an investigation. Supposably a large sum of money was given to a bankrupt company with no employees.

well did they actually do anything wrong if you set up these SMALL BIZ programs allowing corporations to apply DUH.. sorry but this is ALL on Congress for a stupid Fn plan that you then just dump more money in to DO A BETTER JOB CONGRESS!

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