Quote:
Originally Posted by RickFLM4
Quote:
Originally Posted by ASAP
Again layoffs will happen no matter what if revenue doesn't come back, the corporations can do whatever they wish with the money.
The problem here is that shady banks can choose whoever they wish to give the money to by working the docs in their favor... this is fraud of the highest degree and in a major time in need. I seriously hope there is an investigation of all down the road just like there was of the fraudsters after the hurricanes.
This is an extremely shady program... what if someone's business was taking a shit prior to Corona? Thats yet another loophole to take advantage of.
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Never said there would be zero layoffs, but if employers want the loans forgiven they need to maintain payroll. Loan forgiveness is a pretty big incentive to keep people on payroll. Otherwise they need to pay it back over 2 years.
PPP loans are intended to mitigate unemployment not stop it. There is no way to stop it because the government can't possibly support every business. Further there was never a guarantee this program will work because if the economic impact continues longer than the funds will last then some of the businesses who got funding with fail. That has been known from the beginning. It's an attempt to mitigate some of the problems, not solve all of the problems. |
Yea but that is simply not legitimate... thats not how true open market capitalism works. I nean we can argue that for days but reality is what it is.