General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe mystery of which US businesses are profiting from the coronavirus bailout
Government refuses to say which large companies have taken money, while small firms on the margins have been left in the dark
https://www.theguardian.com/us-news/2020/jun/09/us-congress-billions-coronavirus-aid-relief-package#img-1
Businesses have taken at least half a trillion dollars in coronavirus aid from the American public, and the government is refusing to disclose which companies are getting the money.
The lack of oversight in the system for US lawmakers paycheck protection program makes the historic levels of spending ripe for abuse. The media and watchdogs cannot scrutinize the payments to ensure against waste, fraud or favors to political allies.
Eleven national news publications are suing for public records, yet little public attention has gone to the problem, as the government has scrambled to respond to a cratered economy and unemployment that has soared past 40m jobless claims.
Its absolutely mind-boggling that were in a situation where were shoveling so much money out to private businesses, and we dont know where its going, said Kyle Herrig, founder of the watchdog group Accountable.US.
https://www.theguardian.com/us-news/2020/jun/09/us-congress-billions-coronavirus-aid-relief-package
And wall street is going back up with the 2.5 million fudged number being used from the BLS.................
soothsayer
(38,601 posts)We know.
Look in Drumpfs Rolodex.
Newest Reality
(12,712 posts)What an excellent time to be wealthy and a crony at the same time while being as anonymous as possible.
Capitalism works...for itself and so do the rest of us. It's like welfare, only without using that swear word.
Let's see, who do we feel like bailing out today, folks? That's seems to be our primary purpose. Oh, now don't mention those poor loser people who will be missing the dignity of work and who will only be debased by getting a free ride. No, you have to reward the rewarded who deserve more rewards, the way nature intended it.
SWBTATTReg
(22,156 posts)dividends by large %s. It'd be a pretty good sign that said company received a large government 'handout'. Whoops, I meant government 'bailout'. Whoops, I keep messing up here! Whoops, darn government 'benefits'. Whoops, man, I must be bitten by the socialism bug. I meant government 'payouts'. Whoops, another mistake, I meant government 'relief checks'.
Hypocrites. Nail those crooks who take this money under false or fraudulent pretenses. I wouldn't be surprised if rump and cronies set up a series of scam businesses to scam some of this money that should only go to legitimate businesses, not some fly-by-night operation that will be gone before next week is over with.