WASHINGTON—Treasury Secretary Steven Mnuchin defended the government’s decision to lend $700 million in coronavirus-relief funds to trucking firm YRC Worldwide Inc., telling a congressional oversight panel Thursday that taxpayers will profit from the loan.
Members of the bipartisan Congressional Oversight Commission, the watchdog group monitoring Treasury loan programs, have questioned how the Overland Park, Kan.-based firm was able to qualify for government aidMr. Mnuchin acknowledged the loan was risky and said he was under pressure from lawmakers to extend credit to struggling firms, even if it meant losing money.
“If my bank had been underwriting this loan, we would not be making this loan,” said Mr. Mnuchin, who served as chairman of OneWest Bank before joining the Trump administration. “That doesn’t mean I don't think we’re secured and we’ll get our money back.” YRC, one of the nation’s largest trucking companies, qualified for the aid through a $17 billion loan program for firms deemed critical to maintaining national security. The Treasury Department has said it made the national-security decision based on a recommendation and guidance from then-Defense Secretary Mark Esper.
What the... Good God.
😂😂😂 bs 😂😂😂
$700M!!!!! Can someone plz investigate how much money Mnuchin has invested in this co?
Brother’s business. Cousin? They’re all corrupt a-holes.
So Mnuchin has no problem guaranteeing the loan then.
How so? I call BS
Taxpayers will profit. I see. Sure.
That is bullshit.
Hello what about the tax payers we need to eat, feed our kids, stay alive and have a place to live?
I would say others will profit much more than the taxpayer!
Payment for DeJoy wrecking the Postal Service.
Garbage, is what describes the GOP and Trump.
Why stop there? Lend to every Single company in the country. Make a profit.
It's a coronavirus-relief funds to help those suffering from the coronavirus issues not a truck company needing a loan.
That money could have saved tens of thousands of real jobs affected by the pandemic, instead of wasting it on a patently corrupt company. What Mnuchin did was similar to Deutsche Bank giving hundreds of millions of dollars to Trump, a patently corrupt businessman.
3,100 + dead today. Your fault. You and the other Trumplicans. More than 9/11, more than Pearl Harbor.
Seriously...
$2 bets YRC is or related to a Trimp or GOP donor.
🚨 COVID19 in the U.S 🔴 Republicans / GOP Control the U.S Senate 🔴 Donald J. Trump in the White House 🗓️ Thursday, December 10, 2020 ⏲️ 6:20 PM EST 🇺🇸 U.S. DEATHS = 299,495 🔥🔥🔥🔥 🇺🇸 U.S. INFECTIONS = 16,015,360 🔥🔥🔥🔥 🖥️ | CDCgov HHSgov
Who gives a truck g company $700 million ? Why would you give a trucking company that kind of money? What in holy hell are they freaking shipping?!!!
horrible
Yeah, right
Did they ask about Omars, this time non-brother husband, that got close to a mill for his election consulting firm?