Government’s Paycheck Protection Program Bails Out Billionaire George Soros
A distinguished senior fellow at the Gatestone Institute has unleashed his criticism of the government’s Paycheck Protection Program for bailing out billionaire George Soros’ East-West Management Institute, with payments totaling nearly half a million dollars.
That’s while the organization’s federal grants and contracts, its primary source of income, were rising from $9 million in Fiscal Year 2019 to nearly $15 million in 2020.
The comments come from Chris Farrell, in an article at Gatestone.
He noted that in March the Small Business Administration gave a $234,548 “loan” to EWMI. He reported that followed a $226,179 PPP “loan” a year earlier.
“The official description of the transaction is ‘to aid small businesses in maintaining workforce during the COVID-19 pandemic,’ but federal grants and contracts to EWMI (its primary source of revenue) rose from $9,185,194 in FY 2019 to $14,859,293 in 2020,” he explained. (Read more from “Government’s Paycheck Protection Program Bails Out Billionaire George Soros” HERE)
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