WASHINGTON—The $670 billion Paycheck Protection Program to help struggling small businesses survive fallout from the coronavirus pandemic faces a “significant risk” of fraud because of confusing rules and lack of safeguards, a Government Accountability Office report has found.
In its haste to get money to businesses quickly, the Small Business Administration allowed banks to rely on borrowers’ own certifications to determine their eligibility for loans, which can be forgiven if borrowers meet certain conditions, the report...
The rules shouldn't affect the mass .
Basically this administration can,t give away money efficiently. Trump the worst er every thing you can think of really.
Shame that this is typical
Yeah duh. Looters. Lock them all up.
Dozman16 🤦🏻♂️
That's why PPFA was able to steal $80 million that was supposed to go to small businesses.
That is right!
They stolen it
It’s administered by banks via the SBA so I’m sure it can be properly audited. It’s a loan and needs to be used on payroll primarily to be forgiven. The forgiveness form is lengthy. The banks need to require 941s, payroll reports, cancelled checks etc or force repayment.
Trump & many he appointed in his administration are the swamp, much more than so called deep state personnel. I can’t understand why his supporters so narrowly define corruption within his administration 39% Apvl, 120k+ C19 Dths, -10% Dow YTD, No Physical, No Tx Rtns, 3rd Impchd
It's a feature, not a bug
The fraud risk is built in, that's so Trump and his cronies can take their cut first
With these people in charge? Ya think?
Plain corruption, grand theft, small businesses are going extinct, all because his followers don’t want to call out his BS just to own the libs.
You don't understand. In government programs fraud and waste are considered FEATURES not bugs.
News Flash - EVERY Govt program has significant fraud NOT risk of fraud, actual fraud. Medicare has $100B/ yr+ in fraud & has. Its not politicians money so they dont care. Dems view it as redistribution & Repubs too inept to fight it
Really? Is it so strange coming from this mafia admin?
Nice job “fiscal conservatives”. 😒 ripgop DumpTrump
Fraud, waste, abuse, graft and corruption. These were built in features to the program.
Even Tump's once loyal Economist is resigning and warning Us. A top White House economic adviser is leaving — and sounding the alarm on his way out
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