News

40 readers

2 users here now

Breaking news and current events worldwide.

founded 1 year ago

174

The Great Grift: More than $200 billion in COVID-19 aid may have been stolen, federal watchdog says (apnews.com)

submitted 1 year ago by [email protected] to c/[email protected]

39 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 20 points 1 year ago* (last edited 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.