(Tea Party PAC) – If you’re a progressive person who happens to own a business, you have a lot to gain by making connections with powerful people within the Democratic Party. There’s no better way to ensure your future success when you belong to the hive mind than to strike up a friendship with someone, like say, House Speaker Nancy Pelosi or someone in her immediate family.
A company that has some deep connections to Pelosi’s husband just discovered how beneficial such a friendship can really be as they were able to receive a loan from the Paycheck Protection Program meant to help businesses struggling during the coronavirus shutdowns. Just how much did this company get? Let’s just say it’s a healthy number.
These people are so corrupt it makes you wonder how in the world they sleep at night.
Here’s more from Breitbart:
Bloomberg News first reported:
Nancy Pelosi’s spokesman described Paul Pelosi as an investor in the firm, which turned up in loan-level disclosures for the program that were released Monday by the Treasury Department and Small Business Administration. […]
EDI Associates is listed as a recipient of a loan between $350,000 and $1 million. The same company was listed in Nancy Pelosi’s latest House financial disclosure report filed in May 2019, for the year 2018. […]
EDI Associates is listed in Pelosi’s disclosure form as located in Sonoma, California. It’s identified as a limited partnership with an investment in the El Dorado Hotel. The value of the asset on the form — identified as belonging to Pelosi’s spouse — is listed as between $250,001 and $500,000.
“He’s an investor. So, he was not aware the loan was applied for,” Drew Hammill, Pelosi’s deputy chief of staff, said in a statement to the business news outlet.
It’s easy to have your palm greased when Nancy Pelosi, one of the highest ranked Democrats in the country, is your wife. These folks just have no sense of fairness, justice, or equality, which is ironic considering they have duped many Americans into believing that’s what the Democratic Party platform is all about. Nothing could be further from the truth.
However, leftists are seemingly very good at deception because they have so many individuals snowballed into being loyal voters and supporters of their agenda.
The revelation comes after Pelosi criticized the Trump administration’s handling of the PPP program.
The Trump administration’s concealment of PPP loan data was a disturbing sign of its complete indifference to ensuring that Paycheck Protection Program funds go first and foremost to the most vulnerable small businesses on Main Street. Its reversal is an overdue step toward securing the transparency needed to ensure struggling small businesses, particularly minority, women and veteran-owned businesses, are getting the vital assistance they need to survive and retain their workers.
The government on Monday identified roughly 650,000 mostly small businesses and nonprofits that received taxpayer money from a program that likely helped prevent the job market meltdown from growing worse but that also benefited some politically connected firms.
Recipients covered a broad swath of industries, with some that were less directly impacted by the coronavirus pandemic, such as manufacturing and construction, receiving a greater proportion of the loans than the hard-hit restaurant, bar, and hotel industries. Many law firms and private equity companies also obtained loans.
Businesses owned by politicians also borrowed from the Treasury Department’s Payroll Protection Program, including a minor league baseball team owned by the family of the governor of Ohio. A large franchisee of Wendy’s, Taco Bell, and Pizza Hut restaurants, whose CEO is a major donor to President Donald Trump, received loans totaling between $15 and $30 million.
The Paycheck Protection Program was launched at the beginning of April and as of the end of June has handed out $521 billion to businesses and companies across the United States. Many economists have claimed the program prevented the whole job meltdown we saw from the shutdowns from being much worse than it actually was.
Still, someone needs to investigate when companies connected to powerful political leaders get a lot of cash flow, because it certainly seems like political favors are being passed around, and that’s just a no-go. Too many legit businesses are still suffering from the effects of the shutdown to allow corrupt companies have a slice of the pie.