[Kevin Henry-Seacoast]

Interesting twitter thread by the CEO of Fundera talking about how the PPP forgiveness aspect will be a calamity.

https://twitter.com/jaredhecht/statu...954865664?s=21

As companies default on these programs, the government will find a way to avoid forgiveness. The owners will be straddled with a debt they cannot pay and it will be on their bank's book. Wait till some of the programs that were given to non-bank clients start to default. The first thing the regulators are going to ask: "Did you follow ALL the KYC and AML rules to open an account for the customer?"

KH