The Worst Financial Bailout You Haven’t Heard About
Cat.: American Recovery and Reinvestment Act, Beltway Outsider, Small Business Administration06. November 2009
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Every recent president -- Bill Clinton, George W. Bush, and now Barack Obama -- talk about how neat small businesses are, and create tax incentives and lending programs to stimulate small-business growth. But a Government Accountability Office report released today tells a different story: the Small Business Administration's biggest ...
The Washington Post's Carol D. Leonnig reports that federal agencies have combined to give about $5 billion in government contracts set aside for small businesses to actually very, very big businesses. Corporate giants like Lockheed Martin and SAIC are getting million in contracts from agencies like the Dept. of ...
New kid on the block ProPublica has had an excellent article up by Matthew Schwarzfeld about uber-contractor Blackwater winning deals from the Small Business Administration. The SBA's Inspector General found that Blackwater was able to win $100 milion worth in contracts ...
The Small Business Administration canceled 8,000 loans to hurricane victims without notice to the borrowers. When the borrowers sought an explanation, they were told, according to Ron Nixon of the New York Times, “that they had voluntarily given up their loans,” which was not true.
Why this fiasco?...
Interviewed in the New York Times, administrator of the Small Business Administration Steven Preston said that “the budget we have allows us to fulfill our mission, and within that budget we are going to be a much more effective and . . . efficient agency at performing what ...