Sun 11 Sep, 2005 08:27 pm
If the Bush whitehouse could do it to "help" 9/11 Small businesses with $5 Billion in recovery loans, they sure as hell will do the same in New Orleans. What did they do?
Well, for one thing, they didn't get/give many loans to New York or Washington. 19,000 loans were approved. Fewer than 11% went to companies in New York and Washington. Where did the rest go? Good question. How about a South Dakota country radio station, a Virgin Islands perfume shop, a Utah dog boutique. More than 100 Dunkin' Donuts and Subway sandwich shops were awarded low government loans.
Mike Yagudayev had a hair salon which was flattened by the collapse of the trade cente. He asked for $70,000 to rebuils the salon. They gave him $20,000. Investigation by AP reporters Dork Lammers and Frank Bass found that banks assigned loans to the terror relief program without telling borrowers. That meant that neither the government nor the banks could tell how many loans were given out. The Associated Press
investigation also revealed that businesses in dozens of states did not know the loans were from the 9/11 programs. Hundreds of millions of dollars went to unwitting recipients.
I'm quite sure that, in the matter of New Orleans, bushe's administration will continue to disburse more billions of dollars in the good old fashion way. What a corrupted and demoralizing state of affairs.