More than $200 billion may have been stolen from two large COVID-19 relief initiatives. That's according to new estimates from a federal watchdog investigating federally funded programs designed to help small businesses survive the worst public health crisis in more than a hundred years.

More than $200 billion may have been stolen from two large COVID-19 relief initiatives. That’s according to new estimates from a federal watchdog investigating federally funded programs designed to help small businesses survive the worst public health crisis in more than a hundred years.

  • dismalnow@kbin.social
    19·
    1 year ago

    It’s making the vein in my forehead pulse trying to reconcile the terms “Trump” and “trust and good nature”.

    These are COVID-EIDL and PPP “loans”, which were forgiven if you didn’t fire anyone. EIDL had $15,000 worth of advances which didn’t need to be repaid if you claimed you were in a low income area.

    SBA’s funding was cut by Bush Jr. in 2001.. Obama tried to boost it in 2010.

    A lot of that funding was diverted from their staff so there was no infrastructure to vett the recipients claims.

    That’s a borderline smoking gun for me.