PPP Loans Provided Lots Of Cash Assistance With Few Questions Asked
Jan 19, 2023
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Sacha Pfeiffer, an investigative correspondent for NPR, dives into the complexities of the Paycheck Protection Program, designed to aid businesses during the pandemic. She discusses how the rapid rollout led to widespread fraud and challenges in the loan forgiveness process. The honor system for approvals created vulnerabilities, raising ethical questions about fund allocation. Pfeiffer also critiques the government's outdated tech that hampered program efficiency and highlights ongoing tensions in Congress regarding pandemic spending cuts.
The Payroll Protection Program was enacted during the pandemic to provide financial assistance to businesses that were closed, or operating at a reduced capacity. An NPR investigation finds the program was rife with fraud and most of the loans have been forgiven.
This episode: White House correspondent Tamara Keith, investigative correspondent Sacha Pfeiffer, and political correspondent Susan Davis.
This episode was produced by Elena Moore and Casey Morell. It was edited by Casey Morell. Our executive producer is Muthoni Muturi. Research and fact-checking by Devin Speak.
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