from WallStForMainSt
Today, Reuters is reporting that Neiman Marcus is about to file for bankruptcy. https://finance.yahoo.com/news/exclus…
JC Penney is also close to filing for bankruptcy https://finance.yahoo.com/news/exclus…
But, why didn’t they get a bailout?
Unfortunately, this was way too predictable way in advance, but Paycheck Protection Program (PPP) billions went to large companies and missed virus hot spots https://www.cbsnews.com/news/paycheck…
Mark Cuban: ‘Banks are playing’ games on loans, leaving small businesses ‘out in the cold’https://www.cnbc.com/2020/04/13/mark-…
Even hedge funds with enormous trading losses applied for the SBA loans! https://www.marketwatch.com/story/its…
So did universities with many billions of dollars in endowment funds like Harvard University, which netted $9 million in SBA loans https://www.thecrimson.com/article/20…
Colleges seek bailout money in coronavirus relief package https://www.campusreform.org/?ID=14589
Do Colleges Really Need a Federal Bailout? https://www.wsj.com/articles/do-colle…
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