We continue to learn more about the businesses that received loans through the paycheck protection program.
These are loans that businesses may not have to pay back.
Alicia Nieves shows us why watchdog groups who fought for this transparency are now pushing for accountability.
NEW INFORMATION TONIGHT... ONJUST WHO EXACTLY RECEIVEDFOREGIVABLE LOANSTHROUGH THE GOVERNMENT'SPAYCHECK PROTECTION PROGRAM.ALICIA NIEVES SHOWS US WHYWATCHDOG GROUPS WHO FOUGHT FORTRANSPERANCY... ARE NOW PUSHINGFOR ACCOUNTABILITY.A LIST OF BUSINESSES THATRECEIVED FORGIVABLE PAYCHECKPROTECTION PROGRAM LOANS FROMTHEFEDERAL GOVERNMENT, HAS JUSTBEEN RELEASED...BRINGING TOLIGHT, THAT MILLIONAIRES,BILLIONAIRES, AND EVEN ACELEBRITY...RECEIVED FEDERAL AIDINTENDED TO HELP STRUGGLINGSMALL BUSINESSES."FROM THE VERY OUTSET THEPUBLIC, WATCHDOGS, AND ELECTEDOFFICIALS HAD A VERY GOOD REASONTOWANT DATA TO SEE WHERE THISMONEY WAS GOING BECAUSE AS WEJUST LEARNED WE HAD GOODREASON TO BE QUESTIONING 'ISTHIS PROGRAM GOING TO DO WHAT ITWAS INTENDED TO DO?'" R.J.
CROSSIS WITHTHE WATCHDOG ORGANIZATION, U.S.PUBLIC INTEREST RESEARCHGROUP... KNOWN AS PIRG...WHICHPUSHED FOR THE DATA RELEASE ANDNOW IS PUSHING FORACCOUNTABILITY."A BIG IMPROVEMENT ON THEPROGRAM WOULD BE TRUE AUDITS ONALL OF THE LOAN AMOUNTS, THATSAY IF WEFIND THAT YOU COULD'VE PROBABLYGOTTEN MONEY SOMEWHERE ELSE WEARE GOING TO TAKE THOSETAXPAYERS DOLLARSBACK."CURRENTLY ONLY LOANS OVERTWO MILLION DOLLARS WILL BEAUDITED,BUT MOST OF THE LOANS TAKENOUT... INCLUDING SOME BYMILLIONAIRES ANDBILLIONAIRES...WERE JUSTBELOW THAT THRESHOLD."SO WE DON'T HAVE ANY PROOF TOSAY THAT THEY PICKED THAT AMOUNTSTRATEGICALLY BUT ITCERTAINLY RAISESQUESTIONS."WATCHDOG GROUPS SAYTHE ONLY WAY TO ANSWER THOSEQUESTIONS, FOR THE AMERICANPEOPLE, IS CONTINUEDTRANSPARENCY AND EXPANDEDAUDITS.
"FRAUD AND CORRUPTIONARE A REAL CONCERN ANYTIME THEGOVERNMENT IS SPENDINGAND GIVINGMONEY TO COMPANIES ANDESPECIALLY THE PACE IN WHICH ITIS HAPPENING RIGHT NOW, AND THEAMOUNT OF SECRECY THEADMINISTRATION HAS INSISTEDTHERE SHOULD BE AROUND SOME OFTHESEFUNDS EVEN WHEN WE HAVE BEENPROMISED TRUE TRANSPARENCY...MEANS THAT THERE IS REASON TOKEEP A VERY CLOSE EYE ON WHAT ISHAPPENING NEXT.
THE BIGGESTBAILOUT IN U.S. HISTORY DESERVESTHEMOST TRANSPARENCY IN U.S.HISTORY." I'M ALICIA NIEVESRIGHT NOW..
IT'S JUST WAIT ANDSEE ON WHETHER THE SMALLBUSINESSADMINISTRATION OR THE TREASURYDEPARTMENT WILL MAKE A MOVE TOAUDIT MORE OF THELOANS.IF EITHER DOES... IT COULD BEYEARS BEFORE WE SEE THE OUTCOMEOF AUDIT
We're continuing to learn more about businesses that received loans through the paycheck protection program. And these loans are..