politics steve mnuchin Trump

Big Fat Checks, Steve Mnuchin’s Idea And Alms For The ‘Poor’

"I’m sure people will be very happy to get a big, fat, beautiful check".

"I’m sure people will be very happy to get a big, fat, beautiful check".
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7 comments on “Big Fat Checks, Steve Mnuchin’s Idea And Alms For The ‘Poor’

  1. This is an issue where the goal might be admirable, but the mechanism is terrible. It makes perfect sense that larger companies with dedicated accounting and legal departments can navigate the beauracracy of this program better than really small businesses who might be using Excel spreadsheets.

    • yes, and what these companies are doing is substituting these SBA “loans” (grants) for more expensive capital they’d have to raise in the market and/or avoiding having to tap revolving credit lines at banks. Obviously, local Joe who runs a dive bar can’t just call up JPMorgan and ask for a $100 million revolver, but these companies can.

  2. I think it would make interesting reading to see a list all the companies that got the money and how much and then compare it to the list of companies that contributed to political parties fund raising.

    • You’re overestimating govt’s control of loan approval and distribution. Decisions are made at the bank level, and the SBA is so insanely overwhelmed with the administration of dispersing the $, that they don’t have time for politics, even if they had control.

      • Agree 100%. Too often what is ascribed to malice is more often incompetency, or in this case beauracratic.

    • Stephen in Canada

      That really is a great idea – who volunteers to undertake this outstanding act of public serice – i.e. has the way and the will to do it?

    • Anonymous

      Wouldn’t matter. Voter apathy and general (political) ignorance is so widespread and pervasive that no amount of additional marginal information would provoke outrage. If the Fascism, kleptocracy, and criminal incompetenies haven’t sparked the populace, nothing that Open Secrets already provides would.

      Who would report this news anyway? The media that is directly paid to run ads with these contributions? The media that touts its access to both donors and recipients?

      And even for the minority that pretends to care and bothers to vote, where do you go? Coke? Pepsi? Coke again?

      Nah, the Establishment have this farce pretty well stitched up.

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