COVID PPP Fraud 80 Billion!!

20 comments

• shailynn

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  3 years ago

  It’s inevitable that this is going to happen, the magnitude of it is the difference maker. That doesn’t make it okay, and a hard pill to swallow while I was working 6 days a week in 2020 since I was considered an essential worker (so to speak). At that time I was thankful to be employed, looking back now I would have loved to stay home for 6 months doing nothing earning 80% of my normal pay.
• Papi_Chulo

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  3 years ago

  I imagine probably way more than that has been wasted during the pandemic in either fraud or abuse or just plain-ole-waist - one has to wonder how much of the fraud has not been uncovered if it ever is.
  
  When the government starts handing-out $$$ like candy it's like giving shysters the key to the bank - shysters and criminals know a golden-opportunity when they see one.
• Lone_Wolf

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  3 years ago

  Beyond the fraud, giving business owners not impacted by the pandemic hundreds of thousands of dollars is a questionable strategy. Biggest wealth transfer in history. Wealth gap exploded. We haven't begun to see the huge ramifications yet
• Omega_Entertainment

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  3 years ago

  We were impacted by having to shut down and we being an adult entity were denied any Covid money. Wait until they find out that the other 40% that went into congress pet foundations.
• Lone_Wolf

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  3 years ago

  I would hope the Senate would be doing hearings on this massive fraud. Nope! It's all about Jan 6th.
• Icee Loco (asshole)

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  3 years ago

  Most business owners took the money and ran. Never used it to pay employees. Fired them. Didn't reopen. Or post fake job ads to cover their asses. Capitalist greed at its worse
• Tetradon

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  3 years ago

  $80 billion is what was stolen from ONE SMALL PART of the COVID relief program.
  
  "They came into their riches by participating in what experts say is the theft of as much as $80 billion — or about 10 percent — of the $800 billion handed out in a Covid relief plan known as the Paycheck Protection Program, or PPP. That’s on top of the $90 billion to $400 billion believed to have been stolen from the $900 billion Covid unemployment relief program — at least half taken by international fraudsters — as NBC News reported last year. And another $80 billion potentially pilfered from a separate Covid disaster relief program."
  
  https://www.nbcnews.com/politics/justice…
• Icee Loco (asshole)

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  3 years ago

  Tetraplop defending businesses and corporations and wars.
  
  While low balling sex workers
• twentyfive

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  3 years ago

  https://www.politico.com/newsletters/hud…
• Tetradon

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  3 years ago

  ^ Wait, I _defended_ fraud? I just called it out as an even bigger problem than the OP did!
  Are you willfully misquoting me, or more retarded than I thought?
  
  BTW you have me confused with someone else on low balling sex workers.
• Icee Loco (asshole)

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  3 years ago

  Yeah you're defending ppp fraud
• Tetradon

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  3 years ago

  ^ You're illiterate.
• Icee Loco (asshole)

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  3 years ago

  Go find an 80 dollar hoe while you donate 1k to the azov battalion
• Tetradon

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  3 years ago

  ^ $80? I'll fuck your sister twice in the ass.
• san_jose_guy

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  3 years ago

  The bail out money was totally stupid, even without fraud.
  
  Slowing down the economic squirrel cage is fine, but you have to start with the premise that you are going to take care of people's basic needs.
  
  This bail out money only propped up the real estate industry, propped up our economic system.
  
  So the money went into the pockets of mortgagee lender sand rentiers.
  
  If you want to slow down the economic squirrel cage, it is the real estate and securities sectors which have to eat.
  
  So what we needed instead, and still need, is Universal Basic Income, Strong Public Housing Offering, Medicare for All, Free College and College Debt Forgiveness.
  
  SJG
  
  
• Cashman1234

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  3 years ago

  It sucks that folks would do this - I agree. But, they put those programs in place so quickly, it was bound to happen. We scrambled at the bank to get things in place to grant PPP loans - and I’m sure lots of large banks had to rush their implementations.
  
  They are still printing money like they are about to run out of ink! Giving money to folks because the gas prices are so high? Maybe walk the layers of federal and state taxes back from a gallon of gas!
  
• san_jose_guy

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  3 years ago

  Need to go back to progressive income tax and add a wealth tax.
  
  Need to get the money back from the financializers by taxes, rather than loaning it to them at interest or devaluing our currency.
  
  SJG
• Tetradon

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  3 years ago

  ^ I wasn't talking to you, Scrub. You gotta start talking back to those voices in your head.
• Icee Loco (asshole)

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  3 years ago

  The problem isn't the program. It's the business owners who chose to abuse it and fucked tax payers and workers over. This is why business needs more oversight. Can't trust the greedy bastards
• san_jose_guy

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  3 years ago

  No, businesses were squashed too.
  
  Need Universal Basic Income and Public Housing.
  
  SJG