Scotties Toy Box

May 25, 2020

The taxpayer and small businesses get screwed as greedy wealthy businesses steal the money

Filed under: Criminal, Economics, Fascism, Greed, Health, News, Political, Questions, Reason — Scottie @ 11:13

 Companies who took the loans despite having enough resources to get through the financial crisis, were required to return the money by May 18 without facing any penalties. But the Reuters analysis found that at least 76 companies who did not return the loans had “enough cash and cash equivalents to cover operating costs until at least June.”

Reports began circulating in April that many large companies had received millions in loans through the program, despite the intent being to prop up struggling small businesses. President Donald Trump and Treasury Secretary Steven Mnuchin have both been critical of large companies taking advantage of the program and urged them to return the funds.

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