The Fed "has now funded Chinese subsidiaries with millions after telling the American public that C

[riversedge]

so much corruption.

The federal government has now funded Chinese subsidiaries with millions after telling the American public that Chinese sanctions were critical in the ongoing trade war.




PPP Loans Directly Benefit China


https://shero.substack.com/p/ppp-loans-directly-benefit-china?r=1ejbr&utm_campaign=post&utm_medium=web&utm_source=copy


Amee Vanderpool
Jul 15


According to data recently released by the U.S. Treasury Department, several subsidiaries of Chinese companies, including one that drew bipartisan scrutiny from Congress due to its ties with the Chinese military, were the recipients of the Paycheck Protection Program (PPP) loans intended for American small businesses. The federal government has now funded Chinese subsidiaries with millions after telling the American public that Chinese sanctions were critical in the ongoing trade war.

As of early July, the PPP has provided more than 4.9 million loans worth more than $517 billion to participants that include churches, schools, political organizations and now foreign nationals. The plan to help small businesses survive the novel coronavirus pandemic was established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and overseen by the Small Business Administration.

Treasury Secretary Mnuchin initially refused to disclose the names of loan recipients after delaying disclosing the information by labeling the loans as confidential “proprietary information.” Since the names and approximate amounts of the loans have been released, many have accused Congress and the Trump administration of providing loans to larger companies that do not need help. There have also been instances where members of Congress have personally benefitted from the program as well. .......................................



https://cdn.substack.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F883c25ec-dbc5-41d2-bd3b-e757ce768769_1200x675.jpeg

[Eliot Rosewater]

1. STealing from us in plain sight. Crimes unthinkable if a Dem did it, but a con does it

and there isnt even a discussion.

need a new word, hypocrisy not descriptive enough

[Zoonart]

2. WTAF?

It never stops. THEY NEVER STOP.

[Mike 03]

3. Look who's soft on China. It sure ain't Biden.

[RussellCattle]

4. "Propriatary information" means that someone owns it, Mr. Mnuch, and I'd like to suggest that it's..

....the American people who are paying for this, are the ones that own it.

[2naSalit]

5. Needs to be known!!

[crickets]

6. Oversight is absolutely necessary so that this

kind of criminal behavior does not happen. It's outrageous.