Many That Got 9/11 Loans Weren’t Hurt
Most companies interviewed about the government-backed Sept. 11 loans they received have told investigators they weren’t hurt by the suicide attacks and didn’t know they were getting terrorism assistance, an internal government investigation found.
The Small Business Administration’s inspector general also reported Wednesday that lenders who doled out billions of dollars in such loans failed 85 percent of the time to document that recipients were actually hurt by the terrorism attacks and therefore eligible for the federal aid.
The IG, the agency’s internal watchdog, concluded only nine loan recipients in the 59 cases sampled appeared to be qualified for the special disaster loans. The report said SBA officials told lenders they would not be questioned on how they gave out money.
Some of the businesses that got relief included radio station – - no not one located in NYC, but rather in South Dakota. Also a perfume shop, again not in Manhattan, but in the Virgin Islands – - and we can’t forget the dog grooming shop in Utah. There are hundreds of other examples – - all the while small businesses near Ground Zero couldn’t get a penny.
I really think 8 of 10 government workers could be done away with and government would be no worse. It may even get better.
the state, local and federal government is the employer of last resort…always has been.