DBP66 Posted August 3, 2020 Report Share Posted August 3, 2020 38 minutes ago, I AM IRONMAN said: You're blind enthusiasm is funny yet said ..answer me this.... Who do you want dealing with China? Someone who finally put them in there place or someone who is in their back pocket? I'll wait.... U.S. Small Business Bailout Money Flowed to Chinese-Owned Companies Alan Rappeport August 3, 2020, 7:00 AM Read full article President Donald Trump speaks during a signing ceremony for the Paycheck Protection Program in the Oval Office of the White House in Washington, April 24, 2020. WASHINGTON — President Donald Trump has blamed China for the coronavirus pandemic and the ensuing economic crisis, but as the White House looks to stabilize small businesses in the United States, the rescue effort has had an unintended beneficiary: Chinese companies. Millions of dollars of U.S. taxpayer money have flowed to China from the $660 billion Paycheck Protection Program that was created in March to be a lifeline for struggling small businesses in the United States. But because the economic relief legislation allowed U.S. subsidiaries of foreign firms to receive the loans, a substantial chunk of the money went to America’s biggest economic rival, a new analysis shows. According to a review of publicly available loan data by strategy consulting firm Horizon Advisory, $192 million to $419 million has gone to more than 125 companies that Chinese entities own or invest in. Many of the loans were quite sizable; at least 32 Chinese companies received loans worth more than $1 million, with those totaling as much as $180 million. “The extent and nature of P.R.C.-owned, -invested and -connected entities among the P.P.P. loan recipients indicate that without appropriate policy guardrails, U.S. tax dollars intended for relief, recovery and growth of the U.S. economy — and small businesses in particular — risk supporting foreign competitors, namely China,” wrote Emily de La Bruyère and Nathan Picarsic, the co-founders of Horizon Advisory, referring to the People’s Republic of China. The report acknowledges that the participation of these companies in the lending program most likely saved an unspecified number of jobs based in the United States, but it also suggests that many of the businesses probably had access to other forms of capital from public or private markets to support their U.S. operations. The Treasury Department has estimated that the overall program has kept 50 million workers employed in the United States. The revelation that Chinese-backed companies were helped by U.S. tax dollars shows the deep ties that remain between American and Chinese businesses even as relations between the countries have deteriorated in recent months. Trump has regularly vented his anger at China and accused it of spreading a virus that has left the once-thriving U.S. economy in tatters. “It’s China’s fault,” he said Friday. “China should be paying for it, and maybe they will.” The virus has emboldened the administration’s hawks in their calls for both punishing China and decoupling the world’s two largest economies, saying Beijing poses a national security threat. The administration in recent weeks has sanctioned Chinese officials accused of facilitating human rights violations in the Xinjiang region and banned more Chinese technology companies from buying U.S. technology and components. The White House is also nearing a decision that could force ByteDance, a Chinese firm, to sell the U.S. operations of social media app TikTok over national security concerns. “As far as TikTok is concerned, we’re banning them from the United States,” the president said Friday. But the administration’s aggressive approach to China did not stop companies with ties to Beijing from benefiting from one of the main programs intended to prop up the U.S. economy. The Paycheck Protection Program, which was created as part of a $2.2 trillion relief package signed in March, was devised to help small businesses with fewer than 500 workers cover payrolls and overhead expenses while much of the economy was shuttered. When big publicly traded companies that had access to other forms of capital took out PPP loans, the Trump administration publicly shamed them and Treasury Secretary Steven Mnuchin urged them to repay the money, saying they could face criminal liability if they did not qualify for the loans. But the rules of the program also allowed U.S. subsidiaries of foreign-owned companies to apply for and receive loans. The Horizon Advisory report, which analyzed public filings and loan data that was released by the Treasury Department in June, does not claim to be an exhaustive account of the more than 5 million loans that were initiated through the program. The data released by the Treasury Department, for instance, shared loan amounts in ranges only for businesses that borrowed more than $150,000, and information for private firms that took smaller loans was released only in aggregate. Among the companies highlighted in the report were Continental Aerospace Technologies, which received a loan of up to $10 million, and Aviage Systems, which received a loan of up to $350,000. The companies are owned by Aviation Industry Corp. of China, a state-owned conglomerate that the Department of Defense classified this year as a Chinese military company. HNA Group North America LLC and HNA Training Center NY, subsidiaries of China’s HNA Group, both received loans of up to $1 million. HNA Group specializes in real estate, aviation and financial services transactions and is part of the Fortune Global 500. And BGI Americas Corp., which is a subsidiary of Chinese gene-testing giant BGI Group, took a loan of up to $1 million. The company, which is building a gene bank in Xinjiang, did return the money, however, after Axios reported on the loan. Larger loans went to businesses that spanned critical sectors such as pharmaceuticals, defense, advanced manufacturing, electric cars and information technology. In each case, the United States was indirectly funding the kinds of corporations whose owners the Trump administration regularly accuses of intellectual property theft. For example, Dendreon Pharmaceuticals, a California-based biotech company, received a loan worth $5 million to $10 million. It is owned by Nanjing Xinbai, a Chinese state-invested company whose controlling shareholder has close ties to the Communist Party. Money from the Paycheck Protection Program has also made its way to the financial technology sector. Citcon USA LLC, a Silicon Valley mobile payments firm, received $150,000 to $350,000 in loan money. ZhenFund is a major investor; the company connects U.S. companies to Chinese payment platforms such as Alipay and WeChat, which could also face restrictions from the Trump administration. Lawmakers and the Trump administration are in the process of negotiating how to recalibrate the small business lending program in an upcoming economic relief package. A provision of the bill proposed last week by Senate Republicans would make businesses that are partially owned by Chinese companies or that have a Chinese resident on the board of directors ineligible for the next round of loan money. It is uncertain whether such a provision might make it to a final bill. A Treasury spokeswoman noted that the Small Business Administration might review any of the loans administered through the program and deny forgiveness if it turned out that the borrower was not eligible or misrepresented their business in the loan application. The White House had no comment on the loans. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 3, 2020 Author Report Share Posted August 3, 2020 Thousands yesterday back the blue No incidents https://m.facebook.com/story.php?story_fbid=220795709183575&id=285068005193237 Quote Link to comment Share on other sites More sharing options...
I AM IRONMAN Posted August 3, 2020 Report Share Posted August 3, 2020 2 hours ago, DBP66 said: U.S. Small Business Bailout Money Flowed to Chinese-Owned Companies Alan Rappeport August 3, 2020, 7:00 AM Read full article President Donald Trump speaks during a signing ceremony for the Paycheck Protection Program in the Oval Office of the White House in Washington, April 24, 2020. WASHINGTON — President Donald Trump has blamed China for the coronavirus pandemic and the ensuing economic crisis, but as the White House looks to stabilize small businesses in the United States, the rescue effort has had an unintended beneficiary: Chinese companies. Millions of dollars of U.S. taxpayer money have flowed to China from the $660 billion Paycheck Protection Program that was created in March to be a lifeline for struggling small businesses in the United States. But because the economic relief legislation allowed U.S. subsidiaries of foreign firms to receive the loans, a substantial chunk of the money went to America’s biggest economic rival, a new analysis shows. According to a review of publicly available loan data by strategy consulting firm Horizon Advisory, $192 million to $419 million has gone to more than 125 companies that Chinese entities own or invest in. Many of the loans were quite sizable; at least 32 Chinese companies received loans worth more than $1 million, with those totaling as much as $180 million. “The extent and nature of P.R.C.-owned, -invested and -connected entities among the P.P.P. loan recipients indicate that without appropriate policy guardrails, U.S. tax dollars intended for relief, recovery and growth of the U.S. economy — and small businesses in particular — risk supporting foreign competitors, namely China,” wrote Emily de La Bruyère and Nathan Picarsic, the co-founders of Horizon Advisory, referring to the People’s Republic of China. The report acknowledges that the participation of these companies in the lending program most likely saved an unspecified number of jobs based in the United States, but it also suggests that many of the businesses probably had access to other forms of capital from public or private markets to support their U.S. operations. The Treasury Department has estimated that the overall program has kept 50 million workers employed in the United States. The revelation that Chinese-backed companies were helped by U.S. tax dollars shows the deep ties that remain between American and Chinese businesses even as relations between the countries have deteriorated in recent months. Trump has regularly vented his anger at China and accused it of spreading a virus that has left the once-thriving U.S. economy in tatters. “It’s China’s fault,” he said Friday. “China should be paying for it, and maybe they will.” The virus has emboldened the administration’s hawks in their calls for both punishing China and decoupling the world’s two largest economies, saying Beijing poses a national security threat. The administration in recent weeks has sanctioned Chinese officials accused of facilitating human rights violations in the Xinjiang region and banned more Chinese technology companies from buying U.S. technology and components. The White House is also nearing a decision that could force ByteDance, a Chinese firm, to sell the U.S. operations of social media app TikTok over national security concerns. “As far as TikTok is concerned, we’re banning them from the United States,” the president said Friday. But the administration’s aggressive approach to China did not stop companies with ties to Beijing from benefiting from one of the main programs intended to prop up the U.S. economy. The Paycheck Protection Program, which was created as part of a $2.2 trillion relief package signed in March, was devised to help small businesses with fewer than 500 workers cover payrolls and overhead expenses while much of the economy was shuttered. When big publicly traded companies that had access to other forms of capital took out PPP loans, the Trump administration publicly shamed them and Treasury Secretary Steven Mnuchin urged them to repay the money, saying they could face criminal liability if they did not qualify for the loans. But the rules of the program also allowed U.S. subsidiaries of foreign-owned companies to apply for and receive loans. The Horizon Advisory report, which analyzed public filings and loan data that was released by the Treasury Department in June, does not claim to be an exhaustive account of the more than 5 million loans that were initiated through the program. The data released by the Treasury Department, for instance, shared loan amounts in ranges only for businesses that borrowed more than $150,000, and information for private firms that took smaller loans was released only in aggregate. Among the companies highlighted in the report were Continental Aerospace Technologies, which received a loan of up to $10 million, and Aviage Systems, which received a loan of up to $350,000. The companies are owned by Aviation Industry Corp. of China, a state-owned conglomerate that the Department of Defense classified this year as a Chinese military company. HNA Group North America LLC and HNA Training Center NY, subsidiaries of China’s HNA Group, both received loans of up to $1 million. HNA Group specializes in real estate, aviation and financial services transactions and is part of the Fortune Global 500. And BGI Americas Corp., which is a subsidiary of Chinese gene-testing giant BGI Group, took a loan of up to $1 million. The company, which is building a gene bank in Xinjiang, did return the money, however, after Axios reported on the loan. Larger loans went to businesses that spanned critical sectors such as pharmaceuticals, defense, advanced manufacturing, electric cars and information technology. In each case, the United States was indirectly funding the kinds of corporations whose owners the Trump administration regularly accuses of intellectual property theft. For example, Dendreon Pharmaceuticals, a California-based biotech company, received a loan worth $5 million to $10 million. It is owned by Nanjing Xinbai, a Chinese state-invested company whose controlling shareholder has close ties to the Communist Party. Money from the Paycheck Protection Program has also made its way to the financial technology sector. Citcon USA LLC, a Silicon Valley mobile payments firm, received $150,000 to $350,000 in loan money. ZhenFund is a major investor; the company connects U.S. companies to Chinese payment platforms such as Alipay and WeChat, which could also face restrictions from the Trump administration. Lawmakers and the Trump administration are in the process of negotiating how to recalibrate the small business lending program in an upcoming economic relief package. A provision of the bill proposed last week by Senate Republicans would make businesses that are partially owned by Chinese companies or that have a Chinese resident on the board of directors ineligible for the next round of loan money. It is uncertain whether such a provision might make it to a final bill. A Treasury spokeswoman noted that the Small Business Administration might review any of the loans administered through the program and deny forgiveness if it turned out that the borrower was not eligible or misrepresented their business in the loan application. The White House had no comment on the loans. NYT...😂😂😂😂😂😂😂😂😂😂😂 1 1 Quote Link to comment Share on other sites More sharing options...
I AM IRONMAN Posted August 3, 2020 Report Share Posted August 3, 2020 2 hours ago, DBP66 said: and who do you want dealing with Russia??..Putin's trained lap dog named Trump??..wake-up mam...world leaders laugh at Trump he's so f*in nuts!... And fear out .military...no thanks to Barry. Jackass Quote Link to comment Share on other sites More sharing options...
DBP66 Posted August 3, 2020 Report Share Posted August 3, 2020 1 minute ago, I AM IRONMAN said: And fear out .military...no thanks to Barry. Jackass our military was always feared....then along came Trump and we became an international laughing stock....remember when him and the N.K dictator "fell in love"??....🤡 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted August 3, 2020 Report Share Posted August 3, 2020 5 minutes ago, I AM IRONMAN said: NYT...😂😂😂😂😂😂😂😂😂😂😂 you prefer the Russian Times like HSFB and Troll??....yes, the NYT...not as good as Hannity mam?....Trump did a bang up job sending them out tax dollars huh mam??...🤡 Quote Link to comment Share on other sites More sharing options...
I AM IRONMAN Posted August 3, 2020 Report Share Posted August 3, 2020 33 minutes ago, DBP66 said: our military was always feared....then along came Trump and we became an international laughing stock....remember when him and the N.K dictator "fell in love"??....🤡 Your buddy Barry the community organizer slashed it during his 8 years. They weren't nearly as feared as they are now. 🙊🙉🙈 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 4, 2020 Author Report Share Posted August 4, 2020 Thank you Trump Federal bosses fired https://www.rt.com/usa/497004-trump-executive-order-immigration/ 1 Quote Link to comment Share on other sites More sharing options...
I AM IRONMAN Posted August 4, 2020 Report Share Posted August 4, 2020 38 minutes ago, HSFBfan said: Thank you Trump Federal bosses fired https://www.rt.com/usa/497004-trump-executive-order-immigration/ Barry would have promoted them! 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 4, 2020 Author Report Share Posted August 4, 2020 Just now, I AM IRONMAN said: Barry would have promoted them! Exactly. Hes the one who hired these people Why do u think he said well never get our jobs back. He put people in place to make sure of it So now he is fired. And has reversed course on hiring foreigners Trump also got rid of the low income housing in suburbs rule that Obama put in place This should be celebrated 1 Quote Link to comment Share on other sites More sharing options...
I AM IRONMAN Posted August 4, 2020 Report Share Posted August 4, 2020 Lets hope section 8 prospers in North Rockland....right next store to Karen/Krusty.. Then we'll see a different tune from that 🙊🙉🙈 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted August 4, 2020 Report Share Posted August 4, 2020 3 in a row??..LOL..🤡 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted August 4, 2020 Report Share Posted August 4, 2020 ...^ Thanks!!...can we shoot for 4 in a row??....🤡 #panichassetin Quote Link to comment Share on other sites More sharing options...
concha Posted August 4, 2020 Report Share Posted August 4, 2020 1 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted August 4, 2020 Report Share Posted August 4, 2020 GSB and Concha are on a roll!!....how many goofy memes and gifs will they post today as reality starts to set in?...the clown they love days are numbered...so let's hear about how demented and corrupt our new Pres. is....LOL...🙄 Quote Link to comment Share on other sites More sharing options...
DBP66 Posted August 4, 2020 Report Share Posted August 4, 2020 6 hours ago, GardenStateBaller said: #winning people are being layed off and you're winning??...how so??...🤡 1 Quote Link to comment Share on other sites More sharing options...
BUFORDGAWOLVES Posted August 4, 2020 Report Share Posted August 4, 2020 The most hated woman on the planet has an actual point. Larry the Woke Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 4, 2020 Author Report Share Posted August 4, 2020 Journalist quits msnbc over its culture https://justthenews.com/accountability/media/msnbc-producer-quits-says-job-forces-skilled-journalists-make-bad-decisions Pekary said that "behind closed doors, industry leaders will admit the damage that’s being done" and quoted a colleague who declared "wWe are a cancer and there is no cure.” 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 4, 2020 Author Report Share Posted August 4, 2020 So far its been confirmed NY Times and MSNBC are cancers from people who worked there Whose next 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 4, 2020 Author Report Share Posted August 4, 2020 Trump does German people a favor They don't want our military there Trump chose to send some of our military to other places It's a win win https://www.rt.com/news/497054-germany-us-troops-withdrawl-trump/ Quote Link to comment Share on other sites More sharing options...
DBP66 Posted August 4, 2020 Report Share Posted August 4, 2020 4 minutes ago, HSFBfan said: Trump does German people a favor They don't want our military there Trump chose to send some of our military to other places It's a win win https://www.rt.com/news/497054-germany-us-troops-withdrawl-trump/ so the Russian Times thinks it's a good thing we left Germany??..hummm...I wonder what out NATO allies think??...stop reading that Russian B.S....🙄 Quote Link to comment Share on other sites More sharing options...
I AM IRONMAN Posted August 4, 2020 Report Share Posted August 4, 2020 3 hours ago, DBP66 said: so the Russian Times thinks it's a good thing we left Germany??..hummm...I wonder what out NATO allies think??...stop reading that Russian B.S....🙄 Stop being such a Karen.....KAREN! 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 4, 2020 Author Report Share Posted August 4, 2020 Winning https://apnews.com/89347d1b618ab522ec6d13aa114f4e92?fbclid=IwAR1Fr-0-TJRvSfplaxwyTNN2cvNUfwAkDZJpeSAgPv8vlNAusSQcwaOdNjw Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 4, 2020 Author Report Share Posted August 4, 2020 3 hours ago, DBP66 said: so the Russian Times thinks it's a good thing we left Germany??..hummm...I wonder what out NATO allies think??...stop reading that Russian B.S....🙄 they used a yougov poll. The same poll that you use for presidential polls lol u are a karen 1 1 Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted August 4, 2020 Author Report Share Posted August 4, 2020 Around 47 percent of participants in research conducted by pollster YouGov on behalf of DPA news agency, said they were in favor of the Pentagon’s decision to pull out almost 12,000 American soldiers from Germany.Moreover, one in four surveyed Germans insisted that the US military presence in the country should be reduced to zero. yougov polls our presidental races and other governmental races Quote Link to comment Share on other sites More sharing options...
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