Small business loans above $2 million will get full audit to make sure they're valid, Mnuchin says

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The banks and sbagov should have and should be held accountable as well. They are ultimately making the decision of who to grant ppp money too.

stevenmnuchin1 realDonaldTrump VP SecPompeo SpeakerPelosi SenSchumer SenWarren JoeBiden cnni WSJ nytimes thehill Monty Benette hotel took 92 millions loan from PPP. Monty family donated 200,000 to Mr Trump's campaign.

Bet you that hotel operator whose companies have received tens of millions won't be audited or forced to return the money he says he won't return. MajorTrumpDonator

When this health crisis is in the rear view mirror, there should be full audits for every single loan, with stiff penalties, including prison time, for offenders. We need to ensure that there is a level playing field. Mass protest over real & perceived inequality is a major risk

Start with companies that have ties to trump, mnuchin, mcconnell, devos...

Ok, I've changed my mind. Trump Org. properties should absolutely be allowed to receive PPP funding. Bailouts Audits

To act quickly they relied heavily on borrowers' certification that they had no other source of liquidity. False certification is a criminal offense Banks were a conduit for loans - no real underwriting was done. Later audit used to police loans. Priority was to move fast.

This program has not been a success. Thank you for staying on this issue. Someone needs to speak up for Mom and Pop stores.

Trump shell companies now will receive $1,999,999.99

Why doesn’t the Treasury just publish a list of who got money?

Everyone wondering how every business all the sudden needs 1.999m....

Crazy how outrageously rushed and I’ll-conceived the PPPloan program was from the start. It was ripe for advantage taking by large businesses that were favored by big banks and had other funding alternatives (as opposed to mom and pop places). Safeguards were absent.

Wow, and this wasn't done before getting it?!? What slop! Applying for one doesn't work like that.

They say they will do a lot of thing that never happens.

Just imagine how many wealthy PRIVATE companies got this free corporate giveaway

Banks helped out their 'favored' customers. If borrowers have criminal liability, then banks are culpable. Get the money back; it belongs to thousands of *small* businesses that are on the edge of failing. SpeakerPelosi HouseSmallBiz stevenmnuchin1 OversightDems SBAgov

There is no question of liability. GOP wanted the law to work this way.

fakenews eidlhoax pppfail SmallBusiness will never truly get help, we're bankrupt and are on our own as always

Yes, stevenmnuchin1 we MUST protect the virtue of mega-banks at all costs -- for banks would NEVER defraud people, as we've seen for the past 20 years.

Astonishing that Mnuchin actually said 'the banks had no due diligence ... on these loans.' What kind of program allows loans to be funded first and then underwritten later? Ridiculous.

Would be a better place for AG Barr to focus his attention rather than exonerating realDonaldTrump on Russia or looking to tussle w States over Stay-at-Home orders...

Come on Munchkin, kick some ass!

Above $2m ... Lots of room for corruption gone unnoticed. Ask the smaller businesses going under because they can't get their loans.

thirdrowtesla

Don’t forget that the Lakers took out a loan too.

Lol “full audit” by trump hacks? Et me guess blur state companies will get audited 50x as much as texas

Get em

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Australia's Westpac sees over $2 billion hit to earnings amid virusWestpac Banking Corp said it would write down more than A$3.67 billion ($2.36 billion) in its first-half results, with most of the charges stemming from the economic deterioration expected from the coronavirus outbreak. Yesterday NAB, today Westpac. 🧐 Global Depression
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »

Pelosi, Schumer demand small business carve-out as SBA restrains loansNancy Pelosi and Chuck Schumer are pressing the Trump administration to set aside at least $10 billion in small business rescue money for minority banks and other community lenders God fucking forbid the banks ain't taken care ... Since when did she and her left wing agenda ever want to support small business’s All she is doing is scoring political points. You can not trust a word that comes out of her mouth Keep fighting!!!
แหล่ง: politico - 🏆 381. / 59 อ่านเพิ่มเติม »

Public companies took far more small business loans than first thought — here's the latest tallyData from FactSquared, a Washington D.C.-based data analytics firm, shows the full extent that public companies successfully navigated emergency funding. Damn, well the trough was open, and nobody was put in the filter gates so of course the biggest crowded out the smaller businesses. Wow... who woulda thought. Only a medical stable genius uses sarcasm while saving his people after 50,000 deaths from a pandemic.
แหล่ง: CNBC - 🏆 12. / 72 อ่านเพิ่มเติม »

Small Business Loans Site Crashes On 1st Day Of ReopeningBankers have been piling up Paycheck Protection Program applications for small businesses since April 16, when the loan fund ran out of money. It reopened today after Congress added $321 million, but no one can file because the website keeps crashing. Fake news. Filled out 3 today Surprised; of course not. XD Bankers get 6% of every loan they make. How is this allowed?
แหล่ง: NPR - 🏆 96. / 63 อ่านเพิ่มเติม »

Large companies returning their small business loans amid backlash - Business InsiderPublicly traded companies are now required to return loans under the Paycheck Protection Program. Private ones like Sweetgreen are returning them too. Damn right
แหล่ง: BusinessInsider - 🏆 729. / 51 อ่านเพิ่มเติม »

Pizza shop owner on being 'left out' from small business loansMSNBC's Vaughn Hillyard speaks to a pizza shop owner in Glendale, Arizona who thus far has not been able to receive an emergency loan through the Paycheck Protection Program. Despite being 'way ahead of the curve' in applying for the money, the shop owner says he has not been able to secure any funds and has been frustrated as he watches that money go to hundreds of publicly traded corporations. The morning the Administration rolled out the first SBA program, Sec of Treasury, Steve M. made sure to point out the program was for companies up to 500 employees-and presto-boy, did they respond, & kept the monies from the small businesses -who it was meant for-Ruth’s Chris Embarrassed, Many successful Business*s returned $$$ Millions..... Check 2nd time... Its time to repeal the Billionaire tax cuts & claw back the money they already got. If we have to arrest & jail every GOP politician in DC. & all 5 GOP slime on SCOTUS.
แหล่ง: MSNBC - 🏆 469. / 51 อ่านเพิ่มเติม »