Everything that comes out of DC is a fraud.
Congress and the Trump administration designed the PPP to give small businesses fast and easy access to taxpayer funds, and it worked: About $525 billion in loans were distributed to 5.2 million companies between April 3 and Aug. 8. Many business owners say it was a lifeline in turbulent times.
But evidence is growing that many others took advantage of the program’s open-door design. Banks and the government allowed companies to self-certify that they needed the funds, with little vetting.
The Small Business Administration’s inspector general, an arm of the agency that administers the PPP, said last month there were “strong indicators of widespread potential abuse and fraud in the PPP.”
No kidding! A fraudulent program based on a fraudulent hoax based on a fraudulent economy just might result in more cookie jar looting. I could have told them that. in fact, I think I did. I’ll have something to say about this, this week sometime, at the FP news.
And on an unrelated note, I’m not sure where all the traffic is coming from lately, but thank you! This week has seen more visitors than the monthly average for much of the year. Carry on, good readers, carry on.