Current Events > White House Press Secretary's parents received MILLIONS in PPP loans

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Bestoffuture
07/09/20 2:48:52 PM
#1:


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Jagr_68
07/09/20 2:52:45 PM
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SevenTenths
07/09/20 3:07:37 PM
#6:


Crono99 posted...
Remember the 2008 bailout?

banks are making about 70 billion in fees on the loans (paid by the gov't). ON top of billions given out in absurdly low interest rates to people who don't need them.

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BlueTigerLion
07/09/20 3:38:48 PM
#7:


wtf

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HiddenRoar
07/09/20 9:03:55 PM
#8:


Companies tied to Californian Governor Gavin Newsom received millions in PPP loans.
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DarthAragorn
07/09/20 9:04:32 PM
#9:


The Trump admin being corrupt, no waaaaaaay

<_<
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chrono625
07/09/20 9:05:02 PM
#10:


Are people just realizing that celebs and politicians are scum bags?

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OffTempo
07/09/20 9:09:20 PM
#11:


Can someone explain what this PPP loan/scam deal thing is? Out of the loop when it comes to famous people.

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chrono625
07/09/20 9:13:12 PM
#12:


OffTempo posted...
Can someone explain what this PPP loan/scam deal thing is? Out of the loop when it comes to famous people.

From my understanding its not so much a scam but that people filled out the paper work and got money they really shouldnt have gotten.

like Kanye and Kim dont need the loan yet received a low interest loan that should have went to a small business that really needed it.

i heard when it was first beginning the government clerks who were supposed to review and process were ridiculously flooded with requests and due to everything being time sensitive a lot were processed without thought.

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SevenTenths
07/09/20 9:35:56 PM
#13:


OffTempo posted...
Can someone explain what this PPP loan/scam deal thing is? Out of the loop when it comes to famous people.

the government offered extremely low interest rate loans that would become grants if you used them to pay for payroll. (PPP being payroll protection program). The intent of the loans was to help small business cover employee wage cost during the lockdowns. But because they had such low rates even if you misused them for things not payrol. Everyone and their grandma tried to apply for one (there literally was a post here about a user who rents out his 2nd home through airbnb who applied). Since the fund were limited and the stipulations were weak as fuck, the funds were gobbled up by these people and companies that wanted the low interest rate loan. While the actual small business that are struggling through lockdowns were denied because they couldn't act as quickly or grease the right noses.


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harley2280
07/09/20 10:02:34 PM
#14:


chrono625 posted...
OffTempo posted...
Can someone explain what this PPP loan/scam deal thing is? Out of the loop when it comes to famous people.

From my understanding its not so much a scam but that people filled out the paper work and got money they really shouldnt have gotten.

like Kanye and Kim dont need the loan yet received a low interest loan that should have went to a small business that really needed it.

i heard when it was first beginning the government clerks who were supposed to review and process were ridiculously flooded with requests and due to everything being time sensitive a lot were processed without thought.

You're forgetting the part where banks prioritized higher value accounts when doing the paperwork to make sure bigger businesses got the money and mom and pop businesses got fucked.
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