At least someone is doing well?
Via The Intercept:
BANKS WILL MAKE out with $18 billion in fees for processing small business Paycheck Protection Program relief loans during the pandemic, according to calculations by Amanda Fischer, policy director at the Washington Center for Equitable Growth, a progressive economic think tank.
That’s money taken directly out of the overall $640 billion pot of funding Congress allocated to the program it created as part of the CARES Act. “If we did it through a public institution, there would be [more than] $140 billion left,” Fischer noted, as opposed to the $130 billion still up for grabs. The Washington Center for Equitable Growth is releasing an analysis of the government response to the pandemic as soon as this week.