We're continuing to learn more about businesses that received loans through the paycheck protection program.
And these loans are loans that businesses may not have to pay back.
ABOUT THE BUSINESSES THATRECEIVED LOANS THROUGH THEPAYCHECK PROTECTION PROGRAM.AND THESE LOANS ARE LOANS THATBUSINESSES MAY NOT HAVE TO PAYBACK.SCRIPPS REPORTER ALICIA NIEVESSHOWS US WHY WATCHDOG GROUPSWHO FOUGHT FOR THISTRANSPARENCY...ARE NOW PUSHING FORACCOUNTABILITY.A LIST OF BUSINESSES THATRECEIVED FORGIVABLE PAYCHECKPROTECTION PROGRAM LOANS FROMTHE FEDERAL GOVERNMENT, HASJUST BEEN RELEASED...BRINGING TO LIGHT, THATMILLIONAIRES, BILLIONAIRES,AND EVEN A CELEBRITY...RECEIVEDFEDERAL AID INTENDED TO HELPSTRUGGLING SMALL BUSINESSES."FROM THE VERY OUTSET THEPUBLIC, WATCHDOGS, AND ELECTEDOFFICIALS HAD A VERY GOODREASON TO WANT DATA TO SEEWHERE THIS MONEY WAS GOINGBECAUSE AS WE JUST LEARNED WEHAD GOOD REASON TO BEQUESTIONING 'IS THIS PROGRAMGOING TO DO WHAT IT WASINTENDED TO DO?'" R.J.CROSS IS WITH THE WATCHDOGORGANIZATION, U.S.PUBLIC INTEREST RESEARCHGROUP...KNOWN AS PIRG...WHICH PUSHEDFOR THE DATA RELEASE AND NOW ISPUSHING FOR ACCOUNTABILITY."A BIG IMPROVEMENT ON THEPROGRAM WOULD BE TRUE AUDITS ONALL OF THE LOAN AMOUNTS, THATSAY IF WE FIND THAT YOUCOULD'VE PROBABLY GOTTEN MONEYSOMEWHERE ELSE WE ARE GOING TOTAKE THOSE TAXPAYERS DOLLARSBACK."CURRENTLY ONLY LOANS OVERTWO MILLION DOLLARS WILL BEAUDITED, BUT MOST OF THE LOANSTAKEN OUT...INCLUDING SOME BY MILLIONAIRESAND BILLIONAIRES...WERE JUSTBELOW THAT THRESHOLD."SO WE DON'T HAVE ANY PROOF TOSAY THAT THEY PICKED THATAMOUNT STRATEGICALLY BUT ITCERTAINLY RAISESQUESTIONS."WATCHDOG GROUPS SAYTHE ONLY WAY TO ANSWER THOSEQUESTIONS, FOR THE AMERICANPEOPLE, IS CONTINUEDTRANSPARENCY AND EXPANDEDAUDITS."FRAUD AND CORRUPTION ARE AREAL CONCERN ANYTIME THEGOVERNMENT IS SPENDINGANDGIVING MONEY TO COMPANIES ANDESPECIALLY THE PACE IN WHICH ITIS HAPPENING RIGHT NOW, AND THEAMOUNT OF SECRECY THEADMINISTRATION HAS INSISTEDTHERE SHOULD BE AROUND SOME OFTHESE FUNDS EVEN WHEN WE HAVEBEEN PROMISED TRUETRANSPARENCY...MEANS THAT THERE IS REASON TOKEEP A VERY CLOSE EYE ON WHATIS HAPPENING NEXT.THE BIGGEST BAILOUT IN U.S.HISTORY DESERVES THE MOSTTRANSPARENCY IN U.S.HISTORY." I'M ALICIA NIEVESREPORTINGTHE CLASSROOM IS CHANGING
We continue to learn more about the businesses that received loans through the paycheck protection program. These are loans that..