The 2020 @realdonaldtrump "No Apologies" Tour:
The Treasury Department released details about recipients of loans intended to protect small businesses affected by the first coronavirus shutdown. Some of the details are infuriating. See WaPo, “Treasury, SBA data show
The Treasury Department released details about recipients of loans intended to protect small businesses affected by the first coronavirus shutdown. Some of the details are infuriating. See WaPo, “Treasury, SBA data show
small-business loans went to private-equity backed chains, members of Congress.” Recipients included Transportation Secretary Elaine Chao’s family’s shipping business. Secretary Chao is married to Mitch McConnell and her family’s shipping business is headquartered in New York,
but builds most of its ships in China. Hmm . . . I wonder if any of the PPP payments were used to save jobs in China? Maybe we should ask Mitch . . . .
Seven Republican members of Congress, or their immediate families, also received relief under the PPP program. Per the Times,
Seven Republican members of Congress, or their immediate families, also received relief under the PPP program. Per the Times,
Trump’s personal law firm, Kasowitz, Benson & Torres, received between $5 million and $10 million in PPP funds. Tenants and restaurants in Trump properties received over $20 million in loans—money that may have been paid to the Trump Organization as rent. See NYTimes, “Lobbyists,
Law Firms and Trade Groups Took Small-Business Loans.”
In fairness, most of the money under the PPP program went to small businesses, as intended. But the above recipients suggest that the program was subject to political favoritism—or worse. The Treasury Department owes the
In fairness, most of the money under the PPP program went to small businesses, as intended. But the above recipients suggest that the program was subject to political favoritism—or worse. The Treasury Department owes the
American people and explanation. If it is not forthcoming, Congress must investigate the conflicts of interest and questionable loans. @jimcramer @tomkeene @cnbcfastmoney @SquawkCNBC @andrewrsorkin @carlquintanilla @riskreversal @epsilon @ScottWapnerCNBC @threadreaderapp unroll
