Nearly half the money — $143 billion — went to holding companies for the two major banks that failed over the past week, Silicon Valley Bank and Signature Bank, triggering widespread alarm in financial markets.
These are loans though, not tax-funded programs. They’re presumably going to be paid back (albeit probably at a generously low interest rate - that’s a separate discussion) so “hOw aRe yoU gOiNg to PAy fOr it?” doesn’t apply the same way.
These are loans though, not tax-funded programs. They’re presumably going to be paid back (albeit probably at a generously low interest rate - that’s a separate discussion) so “hOw aRe yoU gOiNg to PAy fOr it?” doesn’t apply the same way.
I have no faith that these won't just be forgiven like the round of loans during early covid.
The PPP loans given to business came from Congress I think. A ton of those got forgiven while of course student debt did not