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re: Elon Musk and DOGE found $330 million SBA loans given to children under 11 years old
Posted on 3/24/25 at 1:30 pm to FMtTXtiger
Posted on 3/24/25 at 1:30 pm to FMtTXtiger
It wasn't the kids who filled out that paperwork
0
Posted on 3/24/25 at 1:32 pm to John Barron
quote:
How much fraud do we have in our country?
all of it.
Posted on 3/24/25 at 1:33 pm to John Barron
All ballgiy asked for was evidence supporting the claim. When did that become an outrageous ask?
I mean you’re talking about an influencer who was caught red handed taking money from Russia and then claimed ignorance.
I mean you’re talking about an influencer who was caught red handed taking money from Russia and then claimed ignorance.
This post was edited on 3/24/25 at 1:34 pm
Posted on 3/24/25 at 1:37 pm to mwade91383
quote:
asked for was evidence supporting the claim.
The video evidence is Elon's own words. Complaining about who posted the video saying that discredits the information shows an IQ level below 60.
Posted on 3/24/25 at 1:43 pm to John Barron
Yeah that’s not really evidence either.
Elon could certainly present real evidence for all of us to review (which is what ballguy is asking for) but him simply saying doesn’t mean what you think it means.
Elon could certainly present real evidence for all of us to review (which is what ballguy is asking for) but him simply saying doesn’t mean what you think it means.
Posted on 3/24/25 at 1:44 pm to jizzle6609
Most likely the ones who put their light bill, water, bill and cable bill in their kids name.
Posted on 3/24/25 at 1:45 pm to boogiewoogie1978
So they are eliminating DOE but putting the Student Loan function under SBA, but now they want to fire 40% of SBA?
Maybe our illustrious Doge can provide documentative proof to his assertion. That's not an unreasonable ask. Plus are not most SBA loans simply administered and guaranteed by the SBA with regular banks being the originators?
Maybe our illustrious Doge can provide documentative proof to his assertion. That's not an unreasonable ask. Plus are not most SBA loans simply administered and guaranteed by the SBA with regular banks being the originators?
Posted on 3/24/25 at 1:46 pm to KiwiHead
quote:
So they are eliminating DOE but putting the Student Loan function under SBA, but now they want to fire 40% of SBA?
Yep. I bet all the work still gets done. If so, how could you possibly be against that?
quote:
Maybe our illustrious Doge
How anyone could be against doge baffles me. You far left wackos have no shame.
This post was edited on 3/24/25 at 1:47 pm
Posted on 3/24/25 at 1:49 pm to John Barron
Have any details or documents been released?
Posted on 3/24/25 at 1:50 pm to Houag80
quote:
I believe we know.
All of the
I want them to say it.
I want to hear it.
Reparations have been being issued
Posted on 3/24/25 at 1:51 pm to KiwiHead
quote:
So they are eliminating DOE but putting the Student Loan function under SBA, but now they want to fire 40% of SBA?
Trump said there are tens of thousands of student loans when he suggested this. I wonder who will tell him there are 44 million student loans and if he will make other plans once he has a grip on the reality of student loans.
Posted on 3/24/25 at 1:54 pm to theballguy
quote:
Links, sauces besides Benny just tweeted this?
Posted on 3/24/25 at 1:55 pm to RohanGonzales
quote:
I want one of our contrarians to explain this away.
quote:They are at an extended lunch break
I want one of our contrarians to explain this away.
Posted on 3/24/25 at 1:56 pm to BBONDS25
Well, if he's pumping out bullshite assertions that the SBA has loans out to children under 11 years old, he should provide proof.
So you want the SBA, an already small agency to handle gegular bank loans for businesses and student loans with a 40% haircut in operating budget. Talk about taking something that is not fricked up and turning it into a cluster frick.
So a challenge to the Doge, provide documentation of your assertion and the offending banks or shut up
So you want the SBA, an already small agency to handle gegular bank loans for businesses and student loans with a 40% haircut in operating budget. Talk about taking something that is not fricked up and turning it into a cluster frick.
So a challenge to the Doge, provide documentation of your assertion and the offending banks or shut up
Posted on 3/24/25 at 1:57 pm to RohanGonzales
quote:Not "explain it away", but as always, it's worth paying attention to the denominator. From Grok:
I want one of our contrarians to explain this away.
quote:
The average annual SBA disbursements over the past 10 years (2015–2024) are approximately $31 billion per year when excluding the extraordinary PPP and peak EIDL disbursements, reflecting a more typical operational baseline. Including those anomalies, the average jumps to around $130 billion per year, but this is less representative of standard SBA activity.
So, even excluding the covid bump (which seems inadvisable given that's when a lot of the chicanery probably took place), you're talking about $150B in SBA loan issuance just in the past 5 years. $300M repersents 20bps of fraud (.002%).
I would actually guess the level of fraud in non-government lending is even higher.
Grok's work:
quote:
Pre-COVID (2015–2019):
7(a): ~$23 billion/year (based on historical approvals adjusted for disbursements).
504: ~$5.5 billion/year.
Disaster: ~$2 billion/year (non-crisis baseline).
Other: ~$1 billion/year.
Total: ~$31.5 billion/year for 5 years = $157.5 billion.
COVID Years (2020–2021):
2020: 7(a) regular ~$22 billion + PPP ~$525 billion + 504 ~$5 billion + EIDL ~$100 billion = ~$652 billion.
2021: 7(a) regular ~$25 billion + PPP ~$277 billion + 504 ~$6 billion + EIDL ~$100 billion = ~$408 billion.
Total for 2 years: ~$1,060 billion.
Post-COVID (2022–2024):
Returning to pre-COVID norms: ~$31.5 billion/year for 3 years = $94.5 billion.
10-Year Total: $157.5 billion (2015–2019) + $1,060 billion (2020–2021) + $94.5 billion (2022–2024) = ~$1,312 billion.
Annual Average: $1,312 billion ÷ 10 = ~$131.2 billion.
This post was edited on 3/24/25 at 1:58 pm
Posted on 3/24/25 at 1:57 pm to 4cubbies
What's three zeroes amongst true believers.
Posted on 3/24/25 at 2:02 pm to BBONDS25
the boards strongest Libtards have been triggered by Elon finding this fraud... DisplacedCuckeye,ballguy,Kiwi,cubbies
Posted on 3/24/25 at 2:02 pm to KiwiHead
quote:That's a poor framing. A better framing is: "pearl clutching over items like this is akin to rearranging deck chairs on the Titanic."
What's three zeroes amongst true believers.
It would be like if you earned $500K/year and were spending all of your time trying to figure out how your bank had somehow overcharged you by $50, while at the same time managing to ignore the fact that your long-term liabilities were ballooning by $125K every year. (These comparisons are pretty accurate in terms of scale.)
Posted on 3/24/25 at 2:04 pm to John Barron
You’re pretty upset that people want to know who asked for these loans, aren’t you?
Posted on 3/24/25 at 2:04 pm to John Barron
quote:
finding this fraud...
Calm down, John Bondi.
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