PPP Loans

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Two to three million people kept their jobs for a year because of PPP. Some board members that had those workers lost their jobs, they would have received pandemic unemployment insurance benefits. It increased profitability and another provision of the law that was changed ex post is you didn't have to pay tax on that money. But tell me what I may be missing. This money seems to have ended up in the pockets of people who don't need that much money.

As the coronavirus pandemic disrupted business in the US, the government sent billions of dollars to people and businesses that were affected. That led to an epidemic of financial scams.

This episode was produced by Jon Ehrens, fact-checked by Serena Solin and Tori Dominguez, engineered by Paul Robert Mounsey, and edited by Matt Collette and Noel King, who also hosted.

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