Many 9-11 loans didn't go to victims

[southsider2k5]

http://www.cnn.com/2005/POLITICS/12/29/sep...s.ap/index.html

[mreye]

I heard about this a long time ago. What's new about government inefficiency?

[southsider2k5]

I heard about this a long time ago. What's new about government inefficiency?

 

Unfortunately nothing. Which is why it is estimated that as high as 10% of tax dollars are wasted through ineffeciencies just like this one.

[mreye]

Unfortunately nothing.  Which is why it is estimated that as high as 10% of tax dollars are wasted through ineffeciencies just like this one.

And what percentage is wasted on things like the Alaska bridge?

[southsider2k5]

And what percentage is wasted on things like the Alaska bridge?

 

The sad thing is that bridge doesn't even fall under that category. Think more like $1000 hammers and 3 people doing jobs that would be done by one person in the private sector. That stupid bridge is just a waste, period.

[mreye]

The sad thing is that bridge doesn't even fall under that category.  Think more like $1000 hammers and 3 people doing jobs that would be done by one person in the private sector.  That stupid bridge is just a waste, period.

Oh, I know. I meant add to that 10% the bridge, etc.

[Steve Bartman's my idol]

What I find disgusting is, no matter what the catastrophic event, there are scumbags who will find ways to profit from it, and take advantage of people who really need assistance!

 

:headshake

[Balta1701]

What I find disgusting is, no matter what the catastrophic event, there are scumbags who will find ways to profit from it, and take advantage of people who really need assistance!

 

:headshake

One thing to keep in mind is that almost all of the small businesses we're talking about had no idea that they were getting loans out of the 9/11 dollars, they were only applying for loans from the Small Business Administration, and were routed to the 9/11 dollars by people in the SBA. Many of them first learned that their loans came from those funds when media outlets called them for comment.

 

It's also worth noting that when these reports first surfaced several months ago...Senator Olympia Snow (R, Maine), chairperson of the Senate Small Business and Entrepreneurship Committee, pledged to hold hearings to investigate the matter. That was back in September. As far as I know those hearings haven't even begun.

[mreye]

One thing to keep in mind is that almost all of the small businesses we're talking about had no idea that they were getting loans out of the 9/11 dollars, they were only applying for loans from the Small Business Administration, and were routed to the 9/11 dollars by people in the SBA.  Many of them first learned that their loans came from those funds when media outlets called them for comment.

 

It's also worth noting that when these reports first surfaced several months ago...Senator Olympia Snow (R, Maine), chairperson of the Senate Small Business and Entrepreneurship Committee, pledged to hold hearings to investigate the matter.  That was back in September.  As far as I know those hearings haven't even begun.

It's also worth noting that anyone, R or D, can push her to get those hearing started. I don't think this is a partisan problem and it shouldn't be made into one.