• Nearly 300 US businesses that got COVID-19 aid through PPP have reportedly closed

    Nearly 300 US businesses that got COVID-19 aid through PPP have reportedly closed

    Nearly 300 American businesses have folded despite receiving hundreds of millions of dollars in federal loans meant to keep them afloat during the coronavirus pandemic, a new report says. Some 285
  • Josh Kushner-linked startup axed staff three days before snagging PPP loan

    Josh Kushner-linked startup axed staff three days before snagging PPP loan

    A software startup backed by venture capitalist Josh Kushner axed about a third of its staff just three days before snagging coronavirus relief funds meant to help the firm preserve jobs, The Post has learned. San Francisco-based Welkin Health laid off 10 of its roughly 30 employees on April 24 as the COVID-19 crisis sapped …
  • COVID-19 relief loans reportedly went to dozens of ineligible businesses

    COVID-19 relief loans reportedly went to dozens of ineligible businesses

    Dozens of businesses raked in at least $20 million in federal coronavirus relief loans despite appearing ineligible to receive them, a new report says. More than 75 firms got Paycheck Protection Program loans worth at least $150,000 even though they didn’t exist before the spring or failed to meet other criteria for the program, the …
  • We Can't

    We Can't "Cancel" Student Loan Debt

    We must confront the reality that “cancellation” of student loan debt may successfully serve a political campaign promise, but it fails as serious policy. America’s polarized political system is ripe for radical ideas. Democratic political systems are based on the notion that politicians must find ways to appeal to voters. As the demographics of a …
  • Feds probing Robert F. Smith, billionaire who pledged to pay off students debt

    Feds probing Robert F. Smith, billionaire who pledged to pay off students debt

    The billionaire financier who promised to pay off an entire college class’s student debt is under federal probe for possible tax crimes, a new report says. A web of offshore financial transactions is at the heart of the probe of Robert F. Smith, a money manager and philanthropist who is the wealthiest black person in …
  • Kodak stock plunges after Trump administration puts loan deal on hold

    Kodak stock plunges after Trump administration puts loan deal on hold

    Kodak’s stock price plummeted early Monday after the Trump administration slammed the brakes on a loan deal to help the company launch a pharmaceuticals business. Shares in the former photography giant tumbled 38.2 percent to $9.20 by 7:50 a.m. after the US International Development Finance Corporation put the $765 million loan on ice amid probes …
  • Small business loan program rife with potential fraud, watchdog says

    Small business loan program rife with potential fraud, watchdog says

    Suspected fraudsters have infiltrated a loan program meant to help small businesses weather the coronavirus crisis — and the feds are letting them slip through, a watchdog warned. The Small Business Administration’s inspector general has received more than 5,000 complaints from lenders about suspected fraud in the Economic Injury Disaster Loan program, which offers aid …
  • Kodak launching new pharmaceuticals arm with $765M federal loan

    Kodak launching new pharmaceuticals arm with $765M federal loan

    The phrase “Kodak moment” could soon have a new meaning. Kodak, a 132-year-old camera company, is launching a new pharmaceuticals arm with help from Uncle Sam, officials announced Tuesday. The Trump administration awarded the onetime photography titan $765 million under the Defense Production Act to make ingredients for a wide range of drugs in an …
  • Strip clubs slammed by US restrictions on COVID-19 loans

    Strip clubs slammed by US restrictions on COVID-19 loans

    Strip clubs across the US closed earlier this year in the face of COVID-19 social-distancing measures that precluded the up-close nature of the exotic dancing industry. Like many businesses, these cabarets, lounges and gentlemen’s clubs hoped a $660 billion Small Business Administration (SBA) loan program would help them weather the lockdown. But nearly four months …
  • The Catholic Church raked in $1.4 billion in coronavirus loans

    The Catholic Church raked in $1.4 billion in coronavirus loans

    The Catholic Church raked in at least $1.4 billion in taxpayer-backed loans meant to help small businesses survive the coronavirus pandemic, a new report says. Catholic dioceses, parishes, schools and other entities made extensive use of a loophole in the feds’ Paycheck Protection Program to snag at least 3,500 forgivable loans as the pandemic scuttled …