'I just want to know who made the bad loans' — Cramer blasts small business loan program

Cramer said he originally liked the PPP, but that he as well as Mnuchin "got had." Some banks have also been accused of prioritizing larger customers over small businesses.

"I think that banks were complicit. I think banks gave loans to very good customers, maybe because they needed to keep them afloat," the host of CNBC'sCramer, an owner in two restaurants in Brooklyn, said his frustration did not come from his businesses not getting a PPP loan but from larger companies getting them. He said the actions of the banks would turn public sentiment against them, similar to what happened after the financial crisis.

Mr. Cramer often talks about possible social unrest but never in the context of people s angst over corporate bailouts and relief funds for smaller companies being taking by public companies. Never in terms of efforts to reject funding for firemen policemen etc. Why?

All of the sudden Jim Cramer is the north star? Fuck you very much.

jimcramer Part of the problem is that the banks make money on every loan. There’s a large profit incentive to prioritize huge, multimillion dollar loans over issuing multiple smaller ones. Another issue is that major corporations with many locations still qualified at EACH place

He said the actions of the banks would turn public sentiment against them, similar to what happened after the financial crisis. Plan btc

Don’t be a sore loser because you didn’t get your bad loan. Why should I fund your vanity restaurant. That’s not how you support your family. It’s an ego trip for you

Jim agreed, I want to see all the underwriters work on this shit. All those loans that fast.....I call BS.

We built the largest welfare system in 2 weeks in the midst of a national lockdown under the Trump administration....and you're surprised it failed spectacularly?

As a former SBA Disaster Assistance loan officer, it is clear that you and your sources have no idea what’s involved in going from 0 to millions out the door. Everything is done “on the fly” then tweaked. It’s about getting $ out quick, we know mistakes will be made and fixed.

The guy to oversee the money was fired....

Well most Americans still believe in Wall Street and the administration. Don't they?

Cramer just wants to talk

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jim Cramer reveals his 'Mad Covid-19 Index' of stocks for this 'tricky environment''You want to remember this list the next time the market rolls over,' the 'Mad Money' host said. I don’t have time to learn them all by tomorrow!!
Source: CNBC - 🏆 12. / 72 Read more »

Bank of America CEO calls for Congress to 'fully fund' small business loan program: 'Just get the work done'Brian Moynihan said Congress should make sure the small business loan program is fully funded so that every business that qualifies can receive a loan. How about funding other smaller banks for loans instead of just the big 5. Midwest town businesses are dying from lack of help. Bastards. Bailouts should be considered wellfare. A damn bank that's supposed have to enough money to survive instead depends on bailouts. They're going to be even more reckless in the years to follow and Trump is just throwing money at the problem sending us further into debt. All bad... 😂😂😂😂, so he can give the money to big companies
Source: CNBC - 🏆 12. / 72 Read more »

Private haven for wealthy received $2M from small business loan programThe Florida island community can only be reached by boat or helicopter, and counted Oprah Winfrey as a member.
Source: YahooNews - 🏆 380. / 59 Read more »

Coronavirus response: Here are the big restaurant chains who have — and haven't — returned their small business loansOn April 16, the $349 billion first round of the government’s Paycheck Protection Program (PPP) for small business coronavirus relief loans ran out of money after just 13 days.
Source: YahooNews - 🏆 380. / 59 Read more »