Covid Contractors and the Fraudsters

Submitted by pmattera on Sun, 09/20/2020 - 23:44
If you needed a plumber or a caterer, you would avoid a service provider who had in the past tried to bill you for work not performed or grossly overcharged for what was completed. The Trump Administration takes a different approach. In selecting contractors to provide the goods and services the federal government needs to deal with the pandemic, it has turned to dozens of corporations with a history of cheating Uncle Sam.

Who Is Hogging Covid Stimulus Funds?

Submitted by pmattera on Thu, 08/06/2020 - 18:30
The main cause for the stalemate in Congress over a new round of covid stimulus funding is a belief by numerous Republicans that the federal government has been too generous to the unemployed. The enhanced jobless benefits created by the CARES Act need to be curtailed, they argue, to push people to return to work.

Big Business and the PPP

Submitted by pmattera on Thu, 07/30/2020 - 17:40
By now it is clear that the recipients of Paycheck Protection Program loans were often companies larger than the mom-and-pop operations we were led to believe would be the main beneficiaries. A closer examination of the data shows assistance going not just to mid-sized companies but also to portions of Big Business.

Covid Stimulus Watch Adds $60 Billion in Economic Injury Disaster Loans

Submitted by mellissa on Wed, 07/29/2020 - 17:03

By Mellissa Chang

Covid Stimulus Watch now contains award information for almost 400,000 Economic Injury Disaster Loan (EIDL) payments from the CARES Act, amounting to more than $60 billion in loans. To date, the Small Business Administration has approved approximately $164 billion in EIDL loans, roughly half of its $360 billion allocation, to almost 3 million business. Of these loans, 80% were less than $150,000 and the average loan amount was just over $62,000.

Due to the high volume of loans and the relatively small size of most loan amounts, the Covid Stimulus Watch database only

Foreign-Owned Regulatory Violators Found Among PPP Recipients

Submitted by pmattera on Thu, 07/23/2020 - 16:01
The massive Paycheck Protection Program was depicted as a necessary measure to save American small businesses, yet the list of recipients of the forgivable loans released by the Treasury Department contains numerous companies that are neither small nor American.