Bailout Boycotts from Harvard to Shake Shack Get the Money Back

The Great Recession

Public criticism of big businesses getting a bailout from the Paycheck Protection Program (PPP) is working as effectively as boycotts to prevent abuse that appears designed into the program by lobbyists. 

Presented as a way to save employees of small businesses, devastated by state and federal coronavirus lockdowns, the program doled out loans to only 19% of eligible hospitality businesses before big corporations swept up all available funds.

In less than two weeks, thousands of small businesses were left without support because they lacked the attorneys and major bank relationships necessary to rush through applications. The smaller the business, the less likely you got anything at all.

According to Reuters,

More than 25% of the total pot went to fewer than 2% of the firms that got relief. They include a number of publicly traded companies with thousands of employees and hundreds of millions of dollars in annual sales.

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