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Wall Street Is Loving That a Bank-Bailout Critic Tapped PPP Loan

  • Washington’s Better Markets got between $150,000 and $350,000
  • Adversaries gleeful, even if sum is small next to 2008 rescue
Bloomberg business news
Barofsky Says Some PPP Funds Wrongfully Went to the Big Guys
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The Washington advocacy group Better Markets has spent a decade fighting big banks and railing against the government’s 2008 financial industry bailout. Now it has taken one of its own.

The organization was identified by the Small Business Administration earlier this week as being the recipient of a forgivable loan from the federal coronavirus relief program. While the $188,510 in aid pales in comparison to the $700 billion taxpayer rescue banks got at the height of the credit crunch, Better Markets’ adversaries haven’t been able to hide their amusement.