I’m not convinced there’s any adequate oversight with the PPP program though at all. Massive moral hazard problem with owners gaming it long enough to have it f

I’m not convinced there’s any adequate oversight with the PPP program though at all. Massive moral hazard problem with owners gaming it long enough to have it forgiven or declare bankruptcy after spending it recklessly and then laying people off after the minimum 8 week period anyway. I’m sure there’s also a massive fraud problem with people just spinning up fake companies and payroll statements to get free money. Banks have zero incentive to monitor these companies because it’s all guaranteed by the government and they’ve all been overpaid for doing simple paperwork.