Subscriber Special - Wealthy Bankers Federal Welfare Program

December 19, 2016 08:00 AM
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"I'd feel better if the government was totally out of the loan business."
Dr. Tom Coburn, Honorary Chairman of OpenTheBooks

"In America, we should never demonize success, but we 
shouldn't ask taxpayers to subsidize it, either."
Adam Andrzejewski, CEO of OpenTheBooks
 
Why Small Business Administration Is Providing Billions to Wall Street Firms 
 
By James Varney
Read the report at RealClear Investigations
CLICK HERE
RealClear Investigations | December 19, 2016
Today, RealClear Investigations, reporter James Varney, launches new oversight of the U.S. Small Business Administration (SBA) using our updated OpenTheBooks data.

The focus? A special program that SBA officials would rather not discuss: lending to Wall Street! 

Since 2007, OpenTheBooks data shows $14 billion in guaranteed SBA financing to boutique investment firms, private equity, and large Wall Street Banks.

It's 'hedge fund welfare.'

The SBA is channeling billions of dollars to wealthy bankers at taxpayer backed low interest rates. 

Read the RealClear Investigations report, "Small Business Administration Channels Billions to Wall Street Firms."
LEARN MORE: U.S. SMALL BUSINESS ADMINSTRATION

In 2014, OpenTheBooks exposed hundreds of millions of dollars in SBA financing to private country clubs; subdivisions of the Fortune 100; Bentley auto dealerships and the exclusive diamond brokers of Beverly Hills (90210). 

Then, we found $9.2 billion in guaranteed SBA financing to some of the most successful investment and private bankers in America.

In 2016, OpenTheBooks refreshed and updated our SBA lending data:
 
Small Business Administration Picks Losers Over Winners
CLICK HERE
Forbes | September 7, 2016

We  mapped $24.2 billion in failed SBA loans. Track the SBA bad debt in your ZIP Code or across America. 
 
Money Power Politics
Craig Patrick | FOX13 | Tampa
WATCH HERE 
December 11, 2016
 
OpenTheBooks CEO Adam Andrzejewski interview: SBA lending to the 'wealthy lifestyle.'
Please donate to OpenTheBooks today. It's a tax-deductible gift that holds the political class accountable - across America.

Help OpenTheBooks today with a donation of $25, $50, $100, $250 or $500, click here.
 
 
 
It's Your Money. Join The Transparency Revolution!
 
Matthew_Tyrmand_signature
Matthew Tyrmand
Deputy Director
 
Adam Andrzejewski (say: Angie-f-ski)
Founder and CEO, OpenTheBooks.com
 
PS. Our video describes how our data and technology can help you stop government waste!  Watch it here.

Together, we are a strong team. Please click here to help our mission
 
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STAY UP TO DATE WITH OPEN THE BOOKS!

 

 

JOIN THE TRANSPARENCY REVOLUTION AT OPENTHEBOOKS.COM
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