US Debt & Printing Money for Stimulus Good or Bad?

[Ibanez]

FWIW, PPP and EIDL money saved our bacon the first go around. You had to jump through some hoops and meet the the guidelines but it wasn’t that hard.

Yes, PPP and EIDL were good programs but they also gave money to organizations that didn't need it. My organization didn't qualify (501c6's didn't qualify but 501c3's did ) but if we had we could have submitted an application and received funding that we didn't need because we weren't likely to lay people off.

What he said. Give it to those that are truly hardest hit.

On a different note -
The Gov't doesn't have the resources to enforce a lot of regulation or accuracy where PPP funds are disbursed. The banks are better suited for that and are doing it ( I know Wells Fargo has done an incredible job of preventing/punishing fraud).

Put the onus on the lenders to make sure they are making good loans. They have the resources and experience in evaluating qualifications and risk.

The same could be said about student loans. Make it easier for borrowers to discharge the debt via bankruptcy and lenders will be a lot more careful about giving a Fine Arts major a 6 figure loan.

My friend at WF fired an employee that got a PPP loan for her side hustle. She lied on the application and oh yeah...IT'S A SIDE HUSTLE THAT SHE INCORPORATED 3 WEEKS BEFORE APPYLING! She's now dealing with fraud and an arrest record.

[kalm]

FWIW, PPP and EIDL money saved our bacon the first go around. You had to jump through some hoops and meet the the guidelines but it wasn’t that hard.

Yes, PPP and EIDL were good programs but they also gave money to organizations that didn't need it. My organization didn't qualify (501c6's didn't qualify but 501c3's did ) but if we had we could have submitted an application and received funding that we didn't need because we weren't likely to lay people off.

What he said. Give it to those that are truly hardest hit.

On a different note -
The Gov't doesn't have the resources to enforce a lot of regulation or accuracy where PPP funds are disbursed. The banks are better suited for that and are doing it ( I know Wells Fargo has done an incredible job of preventing/punishing fraud).

Put the onus on the lenders to make sure they are making good loans. They have the resources and experience in evaluating qualifications and risk.

The same could be said about student loans. Make it easier for borrowers to discharge the debt via bankruptcy and lenders will be a lot more careful about giving a Fine Arts major a 6 figure loan.

Our process was almost entirely through the bank for approval.

[AZGrizFan]

Yes, PPP and EIDL were good programs but they also gave money to organizations that didn't need it. My organization didn't qualify (501c6's didn't qualify but 501c3's did ) but if we had we could have submitted an application and received funding that we didn't need because we weren't likely to lay people off.



Put the onus on the lenders to make sure they are making good loans. They have the resources and experience in evaluating qualifications and risk.

The same could be said about student loans. Make it easier for borrowers to discharge the debt via bankruptcy and lenders will be a lot more careful about giving a Fine Arts major a 6 figure loan.

Our process was almost entirely through the bank for approval.

Or, just reinstate debtors prisons...

[UNI88]

Our process was almost entirely through the bank for approval.

Or, just reinstate debtors prisons...

Or go back to old Christian views on moneylending.

[AZGrizFan]

Or, just reinstate debtors prisons...

Or go back to old Christian views on moneylending.

Now that’s just CRAZY talk.

[kalm]

Or go back to old Christian views on moneylending.

Now that’s just CRAZY talk.

[AZGrizFan]

Now that’s just CRAZY talk.

And people say I don’t have a sense of humor.