Lloyd Blankfein says big companies should be 'very reluctant' to tap small business relief program

after taking part in the federal Paycheck Protection Program, despite being large firms with access to other forms of capital.so that small businesses would have a better shot at getting loans. The first round of PPP went quickly, and hundreds of thousands of small businesses were left in limbo while larger companies had greater success at tapping the program.

Blankfein may be speaking from experience: Goldman took $10 billion from the Treasury's Troubled Asset Relief Program at the height of the financial crisis in October 2008. Although it paid the funds back in less than two years, the move fueled public anger that financial firms had to be rescued after the industry helped cause the subprime mortgage crisis.

They should be reluctant due to the public outrage surrounding it.

The government has no money?

🤣🤣🤣 Do as I say, not as I did.

I don't know or agree with whatever you're talking about. I'll do whatever I want to do.

You should stop interviewing people like him. These are people who admit that companies have no moral obligations to rip customers off.

1. How much government money did Goldman Sachs take after the 2008 financial crisis (in which it had play a big role)? 2. Does Goldman Sachs have shares in the US Federal Reserve Systems?

'Please don't be as corrupt as the government will allow' LateStageCapitalism

Now interview a family who lost a family member.

Agreed

United States United States Latest News, United States United States Headlines

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

Small business owners in hardest-hit states were less likely to get relief loans, study showsSmall businesses in states hardest hit by the coronavirus -- including New York, New Jersey, Michigan and Pennsylvania -- were less likely to get federal coronavirus relief loans than less-affected states in other parts of the US, according to research from economists at the Federal Reserve Bank of New York. What's really amazing is the 'small businesses' that got the relief loans WERE LARGE COMPANIES NOT THE MOM AND POPS that are really struggling to stay afloat we need to know who the institutions in charge of disbursement are so we can hold them ACCOUNTABLE
Source: CNN - 🏆 4. / 95 Read more »

Two New England men accused of lying on application for small business relief fundsFederal prosecutors accused two New England men of lying about the number of workers they employed in applications for small business relief funds, the Justice Department announced Tuesday, marking the first set of charges alleging coronavirus stimulus fraud. Oh man this is only the beginning. The program was so ripe for fraud not even funny Prosecute their asses. Trump lied 18,000 times with no penalty
Source: CNN - 🏆 4. / 95 Read more »