President Trump: "I want Harvard to pay the money back, okay? If they won't do that, then we won't do something else." pic.twitter.com/CZV6ibUiQG
— The Hill (@thehill) April 21, 2020
Donald Trump said on Tuesday that he wants Harvard to give back the money that they looted from the PPP, which is a relief fund designed for small businesses.
The fund went empty very quickly, and now we’re finding out that mega corporations were looting it with the aid of the government. Probably, they are just going to get away with it.
Hundreds of millions of dollars of Paycheck Protection Program emergency funding has been claimed by large, publicly traded companies, new research published by Morgan Stanley shows.
In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, the firm said.
The PPP was designed to help the nation’s smallest, mom-and-pop shops keep employees on payroll and prevent mass layoffs across the country amid the coronavirus pandemic.
But the research shows that several of the companies that have received aid have market values well in excess of $100 million, including DMC Global ($405 million), Wave Life Sciences ($286 million) and Fiesta Restaurant Group ($189 million). Fiesta, which employs more than 10,000 people, according to its last reported annual number, received a PPP loan of $10 million, Morgan Stanley’s data showed.
At least 75 companies that have received the aid were publicly traded and received a combined $300 million in low-interest, taxpayer-backed loans, according to a separate report published by The Associated Press.
Here’s the list.
America is cartoonishly corrupt.
It really scares me that so many on the left – and even some on the right – are so willing to trust the government to take care of this crisis as they watch them do things like empty out a loans program for small businesses into corporations which lobby them.
The people who run this government are going to use any opportunity that arises to engage in corrupt practices. They are not going to turn America into a socialist paradise in response to the economic collapse. You will be very lucky if they bother to even feed you.
People from reddit can fantasize to infinity about socialism, but the fact of reality is that you cannot have a socialist government that is also a democracy. Democracy is simply too corrupt, and there is no ability of anyone to mitigate or regulate corruption. It is simply a free for all. If you give more power to that system, it will use that power to engage in further corruption.
There is no solution to the economic collapse. Seeing these redditers talking about how it is going to result in a Universal Basic Income (UBI) is bizarre. It is a bit like they are associating being locked in their homes with Christmas break when they were children, so they’re assuming that it will end with presents. In fact, it is going to end with you losing your job and your home and being locked down in an extreme police state run by Jews.
Right now, we all need to put this sort of nonsense aside, and focus on what really matters: trying to figure out a way to get Donald Trump to tweet about Gamergate.