Looks like the real blame game is for the present absconders to run away with more as the global cabal attempts to dump all debt onto the regional and local banking system, and US taxpayers, who don't have anything left since all the last of the imaginary 2% float has already been wrung out of the real economic dynamics way before yesterday.



Hopefully, there are a few left at the local and regional banks that will NOT fall for the last of the not-royal con game:

"Treasury Department said on Tuesday that lenders will be responsible for preventing fraudulent claims by verifying borrower eligibility, which is determined by a few measures including the borrower’s number of employees and its average monthly payroll costs.

That's not all: banks also must take steps to prevent money laundering and terrorist financing, a process that would normally take weeks, the sources said. Additionally, banks are concerned they could face regulatory penalties or legal costs down the line if things go awry in the haste to get money out the door. But at the same time they are worried they will be blamed for not moving funds fast enough if they perform due diligence the way they would under normal circumstances, the sources said.

RE: mandated interest rate on the loans: community banks said the Treasury’s guideline interest rate of 0.5% will be unprofitable, and that many small banks will not have sufficient liquidity to front up the loans (this, as we said yesterday, may have been a primary consideration for the Fed to release Treasuries and deposits from the Supplementary Leverage Ratio test, effectively opening up over $1 trillion in additional loan capacity across the US banking sector)." from: SBA, ZH, Politico, Reuters etc.

https://www.zerohedge.com/economics/hours-its-start-treasurys-small-business-bailout-verge-collapse



This entire scheme is to divert all responsibility for the FRAUD that has already occurred on to local, and regional independent banking systems.



Yeah, sure, like overnite IT. Pull IT out of your uh_ _ _!!!



I hope there are some folks left in the GOP and the local and regional banks with some common cents left not to get sucked into the last phase of this global FRAUD fiasco!!! (Yes, it's global. Check with Roubini.)