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NPR: Over $200 billion in pandemic business loans appear to be fraudulent, a watchdog says (www.npr.org)

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

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The Office of Inspector General of the Small Business Administration has released a "landscape of fraud" report highlighting why 17% of PPP and other loans appear bogus.

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[–] [email protected] 19 points 1 year ago (1 children)

Except if you give it to rich cunts it usually ends up padding their bank accounts instead of being spent on things like food and clothing. Giving money to rich people is a very inefficient form of stimulus. Not to mention just morally not great. $30 spent on champagne stimulates the economy pretty similarly to $30 spent on basic necessities, but the latter is much more helpful to individuals.

The pandemic unemployment assistance was one of the greatest social programs our stupid country has ever done. The PPP loans were a terrible replacement.

[–] [email protected] 2 points 1 year ago

What? Haven't you heard about trickle-down economics? Are you saying trickle-down doesn't work?!?!