The program — which calls for loans to be forgiven if employers maintain their payrolls — has proven to be extremely popular but has been mired in controversies, from crashing SBA systems that slowed loan approvals to a backlash over major companies like Shake Shack and the Los Angeles Lakers basketball team being approved for the limited aid. Both organizations have since said they were returning the money, as have others.
This week, large banks complained that they believed the SBA was keeping them in the dark about their hundreds of thousands of pending applications and that the agency may be putting them in the back of the line for funds.
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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