The Trump Administration Just Loaned $700M to a Company the Government is Suing for Ripping Them Off. (1 Viewer)

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FullMonte

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Short version:
-YRC trucking was granted a $700M loan by the federal government because they are considered critical to shipping DOD freight.
-The company's stock was worth a total of $70M
-The government is suing the company for overcharging the DOD to ship said freight.


I can't seem to grasp the idea of this being the only trucking company that can ship DOD hardware, and I can't seem to fathom loaning them 10 times the value of the company.

Something is really off here.
 

insidejob

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How does this happen? Is there literally no oversight going on in DC anymore?

ETA: Seriously. If the company is only worth $70M, why the hell would they need $700M? Someone is getting rich off this and I can probably guess who.
 
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The moose

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Wow.


That one is just mind bending. Can't even fathom that one. Who owns that place or is the majority share holders?


Well I guess the silver lining is they can now pay the fines!
 

Farb

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How does this happen? Is there literally no oversight going on in DC anymore?

ETA: Seriously. If the company is only worth $70M, why the hell would they need $700M? Someone is getting rich off this and I can probably guess who.
Well, if the way they handled the SBA loans and the PPP loans/grants is any indication at their professionalism, then this should not be surprise. Sad.
 

efil4

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Campaign " drain the swamp"

In office "fill the swamp".

Lol another campaign promise broken.
 

Saintamaniac

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America should prepare thy anus because this is going to get a lot worst before it's all over. God only knows what will transpire after election night if trump loses.
 

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