Business I know just got a couple million loan, they arent shut down have millions in the bank and if they meet criteria the loan is forgiven, I am not a fan of this...
There are going to be a number of instances like this I'm sure. The thing is there are plenty of businesses that will need those loans to survive.
I agree with allowing loans if needed as financing. But why such generous terms for the loan to be forgiven so business owners can pocket the profits? Were not talking a couple thousand were talking millions. I don't see why the government and thus taxpayers should be the ones subsiding this and owners can keep 100% of profits.
I do legitimately feel bad for small businesses and companies who may be closing down by nothing they did wrong its a shame, but the way this has worked out just doesnt sit right with me, but I suppose thats politics. I hope the money can keep enough hard working people afloat that its all worth it.
You will get no argument from me on that. Maybe some kind of sliding scale on business overall value and ability to pay the loans back? What i think happens is this all gets very complex and the complexities themselves create havoc? Not going all "political" here and i will try not to take sides but this was a huge bailout passed extremely quickly with little to no oversight. There has got to be some kind of agency working on where this money is going and how much of it is going to whom? We literally gave a $2.3 Trillion slush fund to this government to dole out as it sees fit. Then they fired the guy who was going to run the agency doing the checks and balances. Inspector general Glen Fine was fired April 7th and that leaves the entire oversight committee vulnerable. This is not the OT section and it is a Rodney Hood thread. I will stop at that. I want Rodney back when the NBA and the Blazer are up and running.
