ST Alpha - "Yes, though even there, these are in the restaurant businesses that are getting hammered. In order to get the loans they have to keep 90% the " (Reading a Post)

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In response to "I'm fine with some of the public companies getting money - just because they're not profitable or paid a fine doesn't mean they aren't paying workers. -- (edited)" by decline

Yes, though even there, these are in the restaurant businesses that are getting hammered. In order to get the loans they have to keep 90% the

Posted by pmb (aka pmb) Apr 21 '20, 08:57

employees and payroll. They would almost certainly be laying people off or furloughing without it. Agreed, they do have other sources of capital that they could tap into, but that's still just not what they were going to do without it.

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In that sense the money is fungible - a worker at one company is as needy as another - but the application should have asked for cash-on-hand numbers. -- nm - Max Apr 21, 09:00 2
- There simply isn't time to process on that basis. Banks were doing no diligence. The idea was to get it out as fast as possible. -- nm - pmb Apr 21, 09:09 1
  - Applications required excluding employee earnings above $100k. If they could include that in the calc, they could have included current cash. - Max Apr 21, 10:42

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Yes, though even there, these are in the restaurant businesses that are getting hammered. In order to get the loans they have to keep 90% the

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