04/3/20

Paycheck Protection Program Interim Report Card — A+++

Secretary of the Treasury Steven Mnuchin said he would get money to eligible persons as soon as possible.

“My name is Secretary of the Treasury Steven Mnuchin and I have money for YOU! Come on down, amigos. Get some. Get yours. Let’s get busy.”

But, of course, he’s the “government” and — yawn — who believes the GOVERNMENT?

First day report:

Loans made — 1,926 (as of today at 11:00 AM EST)

Funds disbursed — $756,985,761

Participating lenders — 245 banks

This element of the rescue is dealing with Main Street not Wall Street and your Big Red Car has to say: “Well played, Federal Government. Well played, Secretary of the Treasury Steven Mnuchin. Well played indeed!”

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