Thursday, June 11, 2020

Last Call For Mnuchin's Lootin' And Scootin'

So where's the accountability on the two-thirds of a trillion dollars of Treasury Department CARES/PPP loans? We'll never have it, and you're an awful person for asking, because Treasury Secretary Stephen Mnuchin says nobody in America needs to know who got what.

Federal officials responsible for spending $660 billion in taxpayer-backed small-business assistance said Wednesday that they will not disclose amounts or recipients of subsidized loans, backtracking on an earlier commitment to release individual loan data.

The Small Business Administration has previously released detailed loan information dating to 1991 for the federal 7(a) program, a long-standing small-business loan program on which the larger Paycheck Protection Program is based.

The SBA initially intended to publish similar information for the new coronavirus-related loans. An SBA spokesman told The Washington Post in an April 16 email that the agency “intend[s] to post individual loan data in accordance with the information presently on the website after the loan process has been completed,” and it made a similar commitment in response to an April 17 open records request.

But the administration appeared to change course at a hearing Wednesday before the Senate Committee on Small Business and Entrepreneurship, as Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza declined to discuss specific borrowers.

“As it relates to the names and amounts of specific PPP loans, we believe that that’s proprietary information, and in many cases for sole proprietors and small businesses, it is confidential information,” Mnuchin said in the hearing. “The reason why we’re not disclosing the names and amounts, unlike in the 7(a) program, is because of that issue.”

The Post is among 11 news organizations suing the SBA for access to records on loan recipients, amounts of loans and other basic information the agency has previously released. In response to questions from The Post on Wednesday, a Treasury Department spokesman said that disclosing “loan-level data” would risk the confidential business information of loan recipients.

So this will be tied up in the courts for years most likely, and while there's a chance we may know, the Trump regime will simply run out the clock by running to SCOTUS.  The only way we'll ever find out is if Joe Biden wins in November.

Keep that in mind.  Otherwise, the Trumpies get away with literally stealing hundreds of billions of dollars.

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