Still, the initial rollout of the ambitious program faced challenges as banks hurried to prepare themselves to assist with the efforts. In the run-up to the program's launch this past Friday, banks and trade groups pushed for more clarity around the program and sought to manage expectations about how quickly they could dole out the funds.
Still, some banks viewed the announcement of more funds positively, believing it would reassure small business owners that the system would have enough money to cash their checks, even as it works through the technical issues, that person said.A spokesperson for Sen. Chuck Schumer said in a statement to CNBC, "Senator Schumer has not heard from Senator McConnell, and [the small business committee's ranking member] Senator Ben Cardin D-Md has not heard from Senator Rubio.
Despite concerns about the existing program, Congress and the administration are under pressure to offer relief quickly. Administration officials and lawmakers have acknowledged the loan program may not be enough. Mnuchin has told CNBC he would ask Congress for more money if more is needed. The Senate, meantime, had not been expected to be back in session before April 20. McConnell said Tuesday that a session was scheduled for Thursday.
He and his trophy wife know where to print more.
Well let’s try to actually limit this money to legit small businesses or sole proprietorships that actually have been shut down. Not these million dollar public ally traded firms with other assets they can depend on. This has been a helluva cluster fuck from the start. Failure!
Trust Munuchin as about how far you could throw him
Mnuchin specifically said if you owe the IRS money, your stimulus check will not be seized. So another Secretary Mnuchin Lie.
Headline is missing the loan type. PPP or EIDL? EIDL is out, PPP funding is going fast. Sill waiting on Comerica Bank PPP app portal!!!
“Pretty close to airtight”, said Kudlow. Mnuchin smiled and nodded. And the fires continued...
Ha ha, it’s easy to make this claim because they haven’t sent any out
This is the same administration that said COVID-19 was contained and we will see very little cases in our country. 👍😷
Zimbabwe.
No shit! But u might run out of ink....
We will NOT run out of money, but I do need to go get some more at the same time because we are running out
Why not make it a trillion while the printer ink is full
We'll print it or borrow it from China. Pick your poison.
Hospitals could use about $250 Billion about now
Yo, can we just start this universal basic income now? Its getting to that point.
Just tack it onto the 24 trillion national debt
What Cramer is pushing for: congress approve giving money to Private Equity. They want to approve 'held companies' being considered small businesses so that they bail out Private Equity who loaded those companies with massive debt loads just to pay themselves huge dividends.
Can a single person reply and say they have actually received their PPP loan. There were supposed to be same day advances and I don’t know a single business that has received more than just a confirmation number
Millions small businesses will be out of business because they wouldn't be able to get the loans at all. The system is rigged for the big businesses. I am just a start with just my wife and I. We aren't going to apply.
Keep on printing.
Brrrrr
Is the supply of money infinite at this point?
Can’t run out of money when you can just print it from thin air
Thank you jimcramer for shining the spotlight on the tremendous work being done by the nation's banks for small businesses across the country. NCBankers members are working at this moment and around the clock processing PPP loans for small businesses in their communities.
'it's simple, we make the money! out of thin air!'
Printing $$$ means That’s right NOTHING.. America is almost bankrupt and will be sooner than later if we don’t get sh!t going again economics101
Raise taxes on Zuckerberg, Bezos and the rest of the billionaire hoarders to fund relief for small business owners.
But we ran through $2 trillion already? Where did the money go?
But how will they pay for it?
Will Cramer really lend the Treasury his money over 30 years for 1.75%? No, he wouldn’t and no sane investor would. It’s more money printing by the Fed as they’re the only buyer for this worthless paper.
The next time someone says to .SenSanders BernieSanders 'How are you going to pay for it?' - may they be reminded of this and in the moment when healthcare for everyone is so essential. CNN MSNBC ABC CBSNews HouseGOP SenateGOP HouseDemocrats SenateDems Bernie2020
Where’s does he get all his money?
Lmao.....open businesses. The government is out of control. We are not waiting for the corrupt governors and mayors permission. They can be removed
Not as long as money is at zero and the maintenance records of all printing presses are current.
The banks will withhold and keep most of it anyways most people are being denied access because there’s so many hoops to jump through!
They are doing what they can under a tight timeline, and that’s a good thing. We need to keep the pressure on though, because there is much more to be done. And at the same time - it is very necessary to keep a watchful eye on how these big corporations allocate relief funds.
Mnunchin by far has been President Trumps best and most reliable cabinet member
Yeah because they will print to infinity. They aren't even restricted by needing paper to print on since it's all digital printing and digital inflation.
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