Posted on 12/27/2020 4:18:05 PM PST by blueplum
...People caught on fast. In some neighborhoods in Chicago and Miami, it seemed like everyone made a bogus application to the Small Business Administration’s Covid-19 Economic Injury Disaster Loan program....
...The SBA’s much-vaunted new computer system, built by an outside contractor for $750 million, proved blind to certain types of fraud and sometimes awarded grants even when it spotted disqualifying features. The agency pressured loan officers with little training to churn through applications quickly, while making it difficult for them to detect or report suspicious ones. ...
(Excerpt) Read more at sba.gov ...
A July report on 'systemic issues' from the sba
But the fraud wasn't stemmed. And the computer kept on churning. Bloomberg called out the fraud again on 12/24:
The chicken farms in apartment 13-D and other fraud:
broken link, remove spaces, cut and paste (copyright issues)
bloom berg. com/news/features/2020-12-24/small-business-administration-sba-loan-fraud-payouts-show-magnitude-of-issue
Mad yet?
Unless state attorneys? feds? who? take action, most of these $10K thieves - literally stealing from the mouths of children -won't get pursued. There will be no penalty. Let's make sure they all get pursued. Get on the phone, pick up a pen, write an email. 70 million of them. But take some sort of action. Put a voice to this outrageous waste of tax dollars that the MSM is covering up.
darn it - wrong link for Messenger-Inquirer. The correct link is:
It’s obvious that the United States is among the most corrupt countries in the world. imo
I’ve noticed something telling at a local Wal Mart. Typically, The returns counter isn’t very busy. However, I noted one time that a person of a certain color was working returns and there were about 8 people in line, coincidentally all the same color as the worker. I’m sure it was just a coincidence. It’s since been changed.
That’s right. And they have absolutely no allegiance to the USA.
I don’t doubt what was going on. I’d bet they were returning high priced items, too.
I think I must be missing something... Who is “they”? I was aiming that quote in the direction that our nation. the USA has been and still is most likely the most powerful in the world today and has been since WW2. I wasn’t intending to aim it at any “they” group in particular. I would have specified such if that was what I was thinking about.
You’re right. You did miss something. If you read the thread you’ll figure it out.
Sorry, I should have simply said that the “they” are the corrupt people.
Yes, there is a huge problem with people frauding that program. I'm very suspicious of 501c3 organizations such as Joel Osteen's mega-church in Huston sucking just under $5,000,000 and another just on the TV news last night for just over $4,000,000 doing the same thing.
I saw an article 3 or 4 months ago where so many larger companies had drained so much out of the first truanch of forgivable loans that the smaller companies had to wait in line for a new batch of loans to be available to them.
These things strike me as being "fast and loose" with tax money being taken from citizens by force of law which should never ever happen.
CA is afraid that up to 8 billion dollars has been sucked out of the Employment Development Department (EDD) by fraud with a big chance of it going to inmates in CA state prisons to inmates!!!
Thanks for the good information.
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