Steven Mnuchin, Director, Kristin Schwab discussed on All Things Considered


A good percentage of which may well be forgiven to keep this economy from getting even worse than it has and let's say you wanted to know who got that public money from the paycheck protection program treasury secretary Steven Mnuchin and the director of the national economic council our total say the names of the companies that got that public money should be withheld market place's Kristin Schwab is on the transparency desk you know who's funding the Kerrs act the treasury department with your money yeah you the taxpayer and when the government sells out your hard earned cash it usually tells you where it's going and the common Jordan teaches law at Georgetown University the accountability for who gets it how much they receive and whether they're entitled to it that is a trust factor the trump administration says what we should care about is that the loans comply with the carers act but who got on the treasury secretary told Congress last week it's proprietary information Meursault broader on a law professor at UC Irvine thinks there's a couple of other things at play part of this still isn't they left a lot to banks and so it's possible that they just don't know what the funds also it's possible that they do know and they don't want us to know we do know where some of the money went to big names like shake shack and pot belly who pledged to return the loans but we only know that because they're publicly traded companies Aaron Klein is a fellow at the Brookings Institution he was sold to the American public as loans to help small business workers and if they become grants to pay big business creditors notice he says the word grants not loans because businesses don't have to repay them if they fulfill certain requirements like re hiring staff Klein says that makes transparency crucial failing to disclose who got this money undermines this response and future responses and he doesn't just mean future bailouts he means like tomorrow because they're still about a hundred and thirty billion dollars left in the PPP pot I'm Susan fox for market there will be no remote internships mired have their perks but first let's do the numbers.

Coming up next