Trump officials removed '2.7 million' PPP fraud flags from 'the largest corporations' during his lam

[cbabe]

https://www.alternet.org/2022/10/trump-officials-removed-2-7-million-ppp-fraud-flags-during-the-lame-duck-period-report/

Trump officials removed '2.7 million' PPP fraud flags from 'the largest corporations' during his lame duck period

The Paycheck Protection Program (PPP), which was part of the CARES Act of 2020, was launched under former President Donald Trump in response to the COVID-19 pandemic and continued into the Joe Biden era. Some PPP loans were investigated by federal officials and flagged for potential fraud. But according to a Project on Government Oversight (POGO) report released on Thursday, October 6, the Trump Administration eliminated an abundance of flags during its final weeks in office.

Truthout’s Sharon Zhang reports that according to POGO’s report, Small Business Administration (SBA) officials “eliminated 2.7 million flags between December 2020 and January 2021, as the Administration was in its lame duck period.”

…

The rest — about 66 to 77 percent — went to business owners and people like shareholders,” Zhang reports. “Many loans went directly to the rich. Several billionaires or companies owned by billionaires received loans, like Republican fundraiser Joe Farrell or Kanye West’s apparel company, valued at $3 billion. One loan, POGO found, went to a hotel owned by West Virginia Gov. Jim Justice, a Republican who is the richest man in the state and a former billionaire.”

…more…

[Johnny2X2X]

1. Another thing the public hasn't been informed on

Trump made sure the PPP loans went mostly to the largest corporations. Biden fixed that mistake and got the help to small businesses mostly.

[Frustratedlady]

2. THIS is what really pisses me off.

Surely, they can go back through that list and process those fraudulently filing/getting these "loans". I wonder how many of them were grants.

This is what gives these programs a bad name. We've already seen some Repukes dipping into the pop. MTG, for one. They know the program is coming and have the paperwork filled out before the ink is dry on the signatures.

How many other programs did they abuse?

[dchill]

3. 2. Point. 7. M I L L I O N FRAUD FLAGS!

And they want to talk about inflation and wasteful government spending. There are NO sincere Republican positions. Only fraud.

[mahina]

4. Here's the link to Truthout which also employed Will Pitt

And merits support
https://truthout.org/articles/trump-erased-millions-of-possible-ppp-fraud-flags-in-last-days-in-office/

I wonder if the feds can now go back and reset those flags and get this sorted out?

Thanks OP. I would have missed this. What a cretin!

I hope this breaks into mainstream knowledge especially now in advance of the midterms. This says so much about who serves who.

[Raster]

5. The PPP Loan program turned out to be a free slush fund for the rich...

Each and every PPP Loan should be scrutinized by a Special Master.

Every fucking loan should be scrutinized for fraud.

[jaxexpat]

14. When republicans dip into the communal stash they always

give the best and most to the wealthy. It's their nature.

[hibbing]

6. It's ALWAYS worse than you could imagine n/t

[nowforever]

7. This will be dismissed as fake news

The Orange imbecile is the most corrupt piece of garbage that ever inhabited the oval office. His followers are some of the most gullible dummy's that ever lived. And the current GOP politicians are cut from the same cloth. We need a cleanse of the highest order. I am asking their Christan God to allow them all an immediate fast track to the pearly gates...its just heaven quicker than expected. Can you imagine how refreshing it would be to wake up to a cleansed nation. Please God answer this one prayer...Thank you.

[lindysalsagal]

8. And there it is: more tfg wrongdoing.

[keithbvadu2]

9. Loan forgiveness is ok for republican supporters?

[iluvtennis]

16. But not for ever day people (e.g., those with student loans).

[Marcuse]

10. Wait until the Republicans against student loan forgiveness hear about this. Oh wait!

[bluecollar2]

15. I can see it now

The wailing and gnashing of teeth and hand wringing and calls for hearings...









never mind....

[Blue Owl]

11. Crime really is out of control

With the GOP

[Snackshack]

12. Is there anything that DT...

Did during his time as president that did NOT break the law? FFS…

[DallasNE]

13. It would Take A Computer Program

To remove that many flags in 6 weeks. So, get that code and the specs and start restoring those flags. Also get names of those that approve this operation.