According to new experiences out this week, Donald Trump’s family and friends managed to attain a minimum of $21 million from the PPP small enterprise mortgage program created to assist save small companies in the course of the pandemic. Some of those seem like reliable companies, whereas others are clearly simply cash-grabs for already-wealthy corporations. Several members of Congress, together with Nancy Pelosi, additionally had relations who secured loans from this system. Ring of Fire’s Farron Cousins discusses this.
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*This transcript was generated by a third-party transcription software program firm, so please excuse any typos.
On Monday, the Trump administration launched the names of the corporations who obtained $150,000 or extra as a part of the paycheck safety plan program, the PPP, which was primarily the small enterprise mortgage program handed as a part of the cares act. And what was found as teams and journalists and people are digging into who these corporations are. Cause generally it isn’t utterly clear. Uh, what we have found is that a number of Trump’s mates, uh, his mates, his household, uh, different members of Congress, their households, all of them appear to actually money in with these low rate of interest loans that, uh, the cares act offered by the PPP. You know, initially speaking about these tales, it was the massive companies. Remember they’re those that snuck in there that your shake shacks that got here in, took hundreds of thousands from this system, acquired publicly shamed to the purpose the place they gave the cash again after which, you understand, ran out of cash.
Cause you had so many publicly traded corporations, massive companies that got here in and took all the cash. They did it by their little shell corporations. They did not give it again. So Congress needed to cross much more cash after which Congress determined to dip their toe within the pool as effectively. And that’s the place we’re at proper now. Most of the headlines proper now, by the way in which, that is truly form of annoying me a deal with solely Donald Trump’s connections. And certain. There’s a number of them. I imply, one of many corporations that acquired considered one of these low curiosity PPP loans was an indoor lettuce farm firm, um, of which Donald Trump jr. Is an investor. You know, we, they develop lettuce indoors and, uh, Trump jr. Is co proprietor of the corporate. They wanted the PPP mortgage. So they may maintain going in the course of the pandemic. Now they did not get an entire lot of cash.
I feel they have been in all probability proper at 150,000. So, so yeah, I imply, they, they did not take some huge cash, however the largest query is a requirement for lettuce, so far as we all know, didn’t die off in the course of the pandemic. Right? So, so that you and the indoor lettuce trade, um, I’m pretty sure you are okay, you did not essentially want the cash. You simply needed the cash. And that is the issue with many of the names on the checklist. You know, Jared Kushner’s corporations took hundreds of thousands. The firm’s run by different members of his household, took in hundreds of thousands. Jared Kushner goes to revenue off of this massive time, particularly as a result of he was already struggling or his firm was, you understand, to search out folks prepared to lend him cash. Well, guess what? That our authorities’s all the time prepared, particularly in an, in an emergency. Here’s the factor. And this can be a a type of I instructed you so moments. Remember when the cares act was first handed and Democrats determined to sneak in that little modification saying, Hey, guess what? If you are in Congress, if you happen to’re the president, if you happen to’re a member of the family of considered one of these folks, you possibly can’t get any stimulus cash. And I stated, maintain up, it’s possible you’ll keep in mind I did the video on this. I stated, maintain up people, there’s a loophole right here. It solely says stimulus cash. I’m prepared to wager they’re nonetheless gonna benefit from the PPP as a result of that isn’t expressly forbidden within the language.
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