The PPP loan program is ripe for moral hazard. Zero accountability. Banks have no incentive to spend time to underwrite because it’s all guaranteed by the gover

The PPP loan program is ripe for moral hazard. Zero accountability. Banks have no incentive to spend time to underwrite because it’s all guaranteed by the government (e.g. fraud, gaming the forgiveness period, extracting assets and bankrupting company). Would be surprised if there were more business using the money in earnest to save jobs than not.