In response to the revelation yesterday that the Los Angeles Lakers were able to secure a PPP small business loan, Treasury Secretary Steven Mnuchin announced on CNBC that there will be an audit of every loan made over $2 million:

And he reminded companies that took taxpayer money of their potential criminal liablity if the certification of economic need was not true:

This is welcome news and 100% spot on:

Some companies have already returned their funds:

Mnuchin blamed the borrowers, not the banks for the loans:

In what world did someone at the Lakers think they could take a taxpayer bailout?


Tags: lakersPPP