Just to be clear, 60% of PPP loan money must be spent on employee wages or the PPP converts to a loan.
“… bankruptcy trustee John Munding said the money was used to pay workers and the government forgave the loan…”
Like that. Yes. It sucks that the government spent 0.4 * 10m to prop up a company that was going bankrupt (among the other case of moving jobs out of US).
But this was fast money meant for employees and to keep business afloat. I have seen several make good use of the money.
Not sure how this could have happened with more complexity.
