Coronavirus (political)

[SunnySide]

Originally Posted by Chico23231

Once again disgraceful from Pelosi holding up small business PPP act. They don’t care about the backbone of the economy...absolutely disgraceful as they try to tack on Their agenda bullshit.

But Democrats, while saying they aren't opposed to more small-business money, want it to be paired with an additional $100 billion for hospitals, $150 billion for state and local governments and a boost in food assistance funding.

"Small businesses, hospitals, frontline workers and state and local governments across the country are struggling to keep up with this national crisis. They need more help from the federal government and they need it fast. ... While the Trump Administration struggles to figure out how to distribute the funds provided for in the CARES Act, it’s clear that those appropriated amounts will not be enough to cover the tremendous need," Schumer and Pelosi said on Monday.

Democrats also want to make changes to the PPP, ensuring that half of the new $250 billion in funding goes through "community-based financial institutions that serve farmers, family, women, minority and veteran-owned small businesses." Democrats have raised concerns that the current setup of the program favors larger businesses with existing connections to a lender.

“Further changes must also be made to the SBA’s [Small Business Administration] assistance initiative, as many eligible small businesses continue to be excluded from the Paycheck Protection Program by big banks with significant lending capacity," Pelosi and Schumer said, while agreeing that more money for the program is needed to "satisfy the hundreds of billions in oversubscribed demand."
https://thehill.com/homenews/house/4...oronavirus-aid


I would suggest both parties actually try to come up with bi-partisan legislation before demanding a vote.

Instead of what we have now, a party drafts a proposal without the other side's input, then tries to score cheap political points when the other party balks at not immediately voting for it.

[Chico23231]

Originally Posted by SunnySide

But Democrats, while saying they aren't opposed to more small-business money, want it to be paired with an additional $100 billion for hospitals, $150 billion for state and local governments and a boost in food assistance funding.

"Small businesses, hospitals, frontline workers and state and local governments across the country are struggling to keep up with this national crisis. They need more help from the federal government and they need it fast. ... While the Trump Administration struggles to figure out how to distribute the funds provided for in the CARES Act, it’s clear that those appropriated amounts will not be enough to cover the tremendous need," Schumer and Pelosi said on Monday.

Democrats also want to make changes to the PPP, ensuring that half of the new $250 billion in funding goes through "community-based financial institutions that serve farmers, family, women, minority and veteran-owned small businesses." Democrats have raised concerns that the current setup of the program favors larger businesses with existing connections to a lender.

“Further changes must also be made to the SBA’s [Small Business Administration] assistance initiative, as many eligible small businesses continue to be excluded from the Paycheck Protection Program by big banks with significant lending capacity," Pelosi and Schumer said, while agreeing that more money for the program is needed to "satisfy the hundreds of billions in oversubscribed demand."
https://thehill.com/homenews/house/4...oronavirus-aid


I would suggest both parties actually try to come up with bi-partisan legislation before demanding a vote.

Instead of what we have now, a party drafts a proposal without the other side's input, then tries to score cheap political points when the other party balks at not immediately voting for it.

As someone who works in the space, this is a fucking lie. Not just a lie, a fucking lie. Im watching the money flow through KYC AML...and that's a lie. They using the typical race baiting bullshit they are known for.

I thought the original bill was fine negotiate a big bill... not this, not this at all. Its horseshit by Pelosi, pure political horseshit.

[SunnySide]

Originally Posted by Chico23231

As someone who works in the space, this is a fucking lie. Not just a lie, a fucking lie. Im watching the money flow through KYC AML...and that's a lie. They using the typical race baiting bullshit they are known for.

I thought the original bill was fine negotiate a big bill... not this, not this at all. Its horseshit by Pelosi, pure political horseshit.

Chico, can you please explain this to me like im a 10 year old. I have no clue what KYC AML is.

I would think making sure the money doesnt go to big businesses vs small companies is the main spirit of PPP, so why not have controls in place to ensure that?

I understand, if you are saying the money is going to small business and the program is working as intended ... you dont need the extra oversight for a problem if the problem does not exist.

[Chico23231]

Originally Posted by SunnySide

Chico, can you please explain this to me like im a 10 year old. I have no clue what KYC AML is.

I would think making sure the money doesnt go to big businesses vs small companies is the main spirit of PPP, so why not have controls in place to ensure that?

I understand, if you are saying the money is going to small business and the program is working as intended ... you dont need the extra oversight for a problem if the problem does not exist.

its simple, regulatory controls already exist and the private side has partnered with fed government working multiple consecutive weekends to get the money to flow...which worked only because our infrastructure. To think its a free for all or the govt waves a magic wand its completely ignorant. The oversight of our controls thankfully have been loosened, but still remain rigid...do you think from a reputational risk, it would be smart to pick and chose in this moment to hold up other factors in determining who gets apps approved for funds? plus, you know, there laws on the books

But again...this isn't about the Small business, but other agenda items she want to insert

[Giantone]

Originally Posted by Chico23231

its simple, regulatory controls already exist and the private side has partnered with fed government working multiple consecutive weekends to get the money to flow...which worked only because our infrastructure. To think its a free for all or the govt waves a magic wand its completely ignorant. The oversight of our controls thankfully have been loosened, but still remain rigid...do you think from a reputational risk, it would be smart to pick and chose in this moment to hold up other factors in determining who gets apps approved for funds? plus, you know, there laws on the books

But again...this isn't about the Small business, but other agenda items she want to insert

Nothing you said here answer SS question.

[Giantone]

Originally Posted by Chico23231

But again...this isn't about the Small business, but other agenda items she want to insert

Yes it's about small business's and the hospital workers and the people who really need it ,not Boeing getting 50 billion or the Kennedy Center getting money.


For God sake chico stop your shit!


"Small businesses, hospitals, frontline workers and state and local governments across the country are struggling to keep up with this national crisis. They need more help from the federal government and they need it fast. ... While the Trump Administration struggles to figure out how to distribute the funds provided for in the CARES Act, it’s clear that those appropriated amounts will not be enough to cover the tremendous need," Schumer and Pelosi said on Monday.

Democrats also want to make changes to the PPP, ensuring that half of the new $250 billion in funding goes through "community-based financial institutions that serve farmers, family, women, minority and veteran-owned small businesses." Democrats have raised concerns that the current setup of the program favors larger businesses with existing connections to a lender."

[Schneed10]

Originally Posted by Giantone

Yes it's about small business's and the hospital workers and the people who really need it ,not Boeing getting 50 billion or the Kennedy Center getting money.


For God sake chico stop your shit!


"Small businesses, hospitals, frontline workers and state and local governments across the country are struggling to keep up with this national crisis. They need more help from the federal government and they need it fast. ... While the Trump Administration struggles to figure out how to distribute the funds provided for in the CARES Act, it’s clear that those appropriated amounts will not be enough to cover the tremendous need," Schumer and Pelosi said on Monday.

Democrats also want to make changes to the PPP, ensuring that half of the new $250 billion in funding goes through "community-based financial institutions that serve farmers, family, women, minority and veteran-owned small businesses." Democrats have raised concerns that the current setup of the program favors larger businesses with existing connections to a lender."

Giantone I usually dismiss your posts as biased but I have to say this one is accurate, and let me give you a window into how and why.

I work as an executive at a hospital, many of you know this. The CARES act set aside $100 billion in funds to support hospitals. They just distributed the first 30% of the funds to hospitals - and they did it without regard to which hospitals were actually bearing the burden of caring for patients with COVID.

All they did was take the $100B, multiply it by 30%, meaning they're distributing $30B. And they took that $30B and just distributed it to hospitals based on the proportion of Medicare revenue those hospitals had last year.

In other words, if a hospital in New York had 0.005% of the Medicare revenues in the country last year, and a hospital in Nebraska had 0.005% of Medicare revenues in the country last year, they got the exact same $ amount from this first distribution. Nevermind the fact that the hospital in NY is actually treating COVID-19 patients in droves, while the hospital in Nebraska barely has any.

So the hospital in Nebraska is sitting there with this windfall, and the hospital in New York doesn't have nearly enough to pay for PPE, ventilators, etc. etc.

It was lazy and poorly executed. The equivalent of just waving a wand and being done with it. It's easy to dismiss things we read in the news these days as biased, because few journalists these days can actually connect it to facts, and how things are actually done. But this is an illustration of how poorly Trump and his administration have managed the crisis. They don't understand nuances of the pandemic enough to manage it properly - so they just wave a wand as if they can't be bothered with careful planning and foresight.

Very disappointing.

[Giantone]

Originally Posted by Chico23231

As someone who works in the space, this is a fucking lie. Not just a lie, a fucking lie. Im watching the money flow through KYC AML...and that's a lie. They using the typical race baiting bullshit they are known for.

I thought the original bill was fine negotiate a big bill... not this, not this at all. Its horseshit by Pelosi, pure political horseshit.

No , this is horse shit by you . You and your PDDS .Pelosi Democrat Derangement Syndrome)