Wednesday, January 27, 2021

Tag: Coronavirus Drives Barrage of New Lobbying Activity

Coronavirus Drives Barrage of New Lobbying Activity

by Wolf Richter, Wolf Street:

Follow the Bailout Money.

When the $2.2 trillion bailout package was being put together by Congress in all haste in March, a mad scramble broke out over who would get what.

Part of this deal was the $349 billion Paycheck Protection Program for “small businesses” – which can be, as we now know, a publicly traded company with over 5,700 employees, or a KKR-backed power company that, upon getting the loan, files for prepackaged Chapter 11 bankruptcy.