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The Right Coast
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Opinion | The Small-Business Aid Program Has Been a Fiasco – The New York Times

By Thomas A. Smith

The Paycheck Protection Program may have been well intended, but in practice it had three major flaws. First, it lumped all businesses with fewer than 500 employees in a single category, which pitted them against one another in a first-come, first-served competition that set chains like Potbelly and Ruth s Chris Steak House against nail salons and yoga studios, with predictable results. Yes, Potbelly and its employees are facing hard times as well, but there are many other options for larger businesses, such as, going forward, the Federal Reserve s $600 billion Main Street Lending Program.

via www.nytimes.com

Law professor Tim Wu.