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Author Topic: Oops: Treasury Erred in Giving $700 Million COVID Loan to Trucking Company, Congress Says  (Read 295 times)

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Offline rangerrebew

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Oops: Treasury Erred in Giving $700 Million COVID Loan to Trucking Company, Congress Says
« on: June 28, 2023, 05:16:26 pm »
Oops: Treasury Erred in Giving $700 Million COVID Loan to Trucking Company, Congress Says
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Robert Schmad
June 28, 2023
A new congressional report found that the Treasury Department gave a dubious $700 million loan to a failing trucking company with funds allocated by the bipartisan CARES Act.

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Only companies that were fulfilling important defense contracts or had high-level security clearance should have been eligible for such loans, the report states. Yellow, the trucking company that received the loan, did not meet these requirements.

However, by securing the approval of the Department of Defense or the director of national intelligence, the agency could grant the loan even if the national security conditions were not met. Using this "catch-all" provision, the Treasury granted the loan and took on ownership of roughly a third of the company.

https://freebeacon.com/latest-news/oops-treasury-erred-in-giving-700-million-covid-loan-to-trucking-company-congress-says/
« Last Edit: June 28, 2023, 05:17:29 pm by rangerrebew »
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The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbor to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg.
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Offline rangerrebew

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Re: Oops: Treasury Erred in Giving $700 Million COVID Loan to Trucking Company, Congress Says
« Reply #1 on: June 28, 2023, 05:18:58 pm »
Erred, huh?  R-i-i-i-i-i-i-ght! *****rollingeyes*****
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The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbor to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg.
Thomas Jefferson

Offline Smokin Joe

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Re: Oops: Treasury Erred in Giving $700 Million COVID Loan to Trucking Company, Congress Says
« Reply #2 on: June 29, 2023, 05:04:12 am »
Sounds like Solyndra on wheels.
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Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

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