Where, Exactly, Did $800 Billion in PPP Money Go?
Taxpayers deserve a thorough examination into potential fraud before the government closes the books.
The Small Business Administration’s job isn’t over yet.
Photographer: Patrick T. Fallon/AFP/Getty Images
Billions of dollars of federal funds may have been misappropriated as part of the government’s well-intentioned but loosely monitored effort to support entrepreneurs and their employees during the Covid-19 pandemic. Meanwhile, the Small Business Administration, which has supervised the massive rescue since last year, decided recently to speed up its completion by making it easier for borrowers to have their loans forgiven.
Let’s slow down, shall we? After all, those billions came from taxpayers, and more transparency and accountability are needed before the government wraps it up. Congressional investigators and auditors, along with federal prosecutors, should stay on the case — especially before all of those loans are forgiven.