ppp as you offered. that was far more successful $900 billion of loans with four.6 billion of potential fraud. a far better ratio for legitimate loans. and with the private sector. and even to expand the sole lending vehicles by members or colleagues on this committee or even your office that something you expand lending vehicles solely through the sba resources as opposed on advocating for such vehicles to be expanded to the partnership of the community bank such as the ppp loan was handled? which would you prefer? >> in my role and i rely solely on the work by my office to inform this congress and the people who set up policies and those who set up programs on what you have before you. there are a lot of moving parts to make a determination into that. >> you are in charge. we need your input what is most effectively carried out by the sba. please keep that in mind. let me just ask you that as well. but are you comfortable at this point with the loans being made as brought up with additional safeguards

ppp as you offered. that was far more successful $900 billion of loans with four.6 billion of potential fraud. a far better ratio for legitimate loans. and with the private sector. and even to expand the sole lending vehicles by members or colleagues on this committee or even your office that something you expand lending vehicles solely through the sba resources as opposed on advocating for such vehicles to be expanded to the partnership of the community bank such as the ppp loan was handled? which would you prefer? >> in my role and i rely solely on the work by my office to inform this congress and the people who set up policies and those who set up programs on what you have before you. there are a lot of moving parts to make a determination into that. >> you are in charge. we need your input what is most effectively carried out by the sba. please keep that in mind. let me just ask you that as well. but are you comfortable at this point with the loans being made as brought up with additional safeguards

ppp as you offered. that was far more successful $900 billion of loans with four.6 billion of potential fraud. a far better ratio for legitimate loans. and with the private sector. and even to expand the sole lending vehicles by members or colleagues on this committee or even your office that something you expand lending vehicles solely through the sba resources as opposed on advocating for such vehicles to be expanded to the partnership of the community bank such as the ppp loan was handled? which would you prefer? >> in my role and i rely solely on the work by my office to inform this congress and the people who set up policies and those who set up programs on what you have before you. there are a lot of moving parts to make a determination into that. >> you are in charge. we need your input what is most effectively carried out by the sba. please keep that in mind. let me just ask you that as well. but are you comfortable at this point with the loans being made as brought up with additional safeguards

>> covid liars realigned in turn only under the definition of sba that deals with ppp. so it is more of a familiarity for the banks and lending institutions standpoint in terms of the systems they have in place to catch fried that allow it to be better suited with this attack of fraudsters. the lowering of guardrails to focus specifically on speed at the time. >> i yield back. >> i now recognize the gentle he from the subcommittee from workforce development for five minutes. >> thank you for holding this very important hearing. and thank you for taking time to testify and to help shed light on the waste fraud and abuse taking place at the sba we all recognize it is indispensable to safeguard dollars to push the federal government to work more efficiently for small businesses. a lot has been discussed then the loans provided and to have many of the same concerns raised by my colleagues to the select loan program. and i have to say i am very troubled we are considering extending and then just before we do anything. since the beginning of the pandemic, the sba disaster loa

and then for that deep consideration when the request is made ppp was designed to expeditiously find with the fraud and eligibility controls and rather during the loan forgiveness period. i know oig has identified 70000 loans four.$6 billion a potentially fraudulent ppp loans and this might be the tip of the iceberg. a large majority of the ppp loans partially or fully forgiveness does oig have a better sense of total fraud? i don't remember if you gave a specific sense and if not you have a more distinct picture? the work on loan forgiveness those that are ongoing currently with some indication of what we are looking at we will see where the rubber meets the road because the numbers are large so those that have an early default high risk lending review program. >> we know there are non-bank lenders is oig working specifically to identify those lending institutions are the non-bank lenders quick. >> we have not focused on any the number we are dealing with we have enough from the entire landscape. our agents have caseloads. >> my first question is what resources do you need i'm sure

giving more ppp into the hands of those who really need it, increasing loan sizes and flexibility ofur low-cost program, and dispersing gradually -- gradually. the sba delivered more than $450 billion in financial relief to support 6 million small businesses. we're delivering on the promise of forgiveness made to over 13 million small businesses for our ppp loans. working alongside you together with local organization in your own backyard with our expanded lending network, and powering financial institutions. and we have made these connections and stronger with the launch the american rescue plan's supportive network powering over 450 new touch point organizations in your community is focusing on underserved and highly entrepreneurial communities. and we are committed to continuing to build on this work because america's cities are defined by small businesses. as mayors, you get it when i say that small businesses are the giant of the economy. our 32 and a half million small businesses and startups create two thirds of jobs, and power 40% of our economic output. just as important, th

getting more ppp into the hands of those who really need, it increasing loan sizes and flexibility of low cost -- programs. and dispersing grant beliefs to our industries. and in president biden's first year, the sba delivery nearly 450 billion dollars of relief to support 6 million small businesses. and we're delivering on the promise of forgiveness made to over 13 million small businesses for our ppp loans. we've done all this working alongside you, together with local organizations in your own backyards. with our expanded lending network, and financial institutions. and we have made these connections stronger. with the launch of the american rescue plan. and that supported inclusive network of community navigators. who are powering over 450 new touch point organizations. in your communities. focusing on underserved, and how the entrepreneurial communities. we are committed to continue to build on this work. because american cities are defined by small businesses. as mayors you get it when i say the small businesses are the giants in our economy. our nation's 32 and a half million s

they gave out over 11 million ppp loans.ederal government has never been set up to track money very well and with the unprecedented amount of money in the covid relief bills, more than ever it will be wasted. >> supporters of the program say it saved regular jobs when the country was desperate. it is now up to regular people to expose those who took advantage. basically if washington can't keep track you want all of us to step up. >> this is all of our money and all of our responsibility. >> a responsibility he says he has now made easier to fulfill with his website. that's it from here. back to you, dana and bill. >> dana: thank you, douglas. i'm sure there is ra lot more ahead. >> bill: strange twist of fate. how a report on san francisco's homeless ended up reuniting a woman with the brother she thought was dead. >> seeing that he was abusing fentanyl scared me. but then i thought maybe this is a good thing that he allowed himself to be recorded because maybe he would be more open to seeking help. i brought in ensure max

otra hispana poco beneficiarse de los prÉstamos del gobierno para pequeÑas empresas, conocido como pppres demÓcratas que mandaron una carta al picar general del paÍs urgiÉndole a que emita una directiva para que las agencias federales actualicen su plan de lenguaje federal. >> todos en otro paÍs merecen tener acceso a servicios vitales dan otro gobierno en su idioma. reportera: explica que faltan mÁs hombres en espaÑol y precios en oficinas y en pÁginas web de las agencias. >> lo mismo pasa con los padres tratando de acceder a ayudas o medicare. reportera: mucho de los recursos de las agencias no se habÍan actualizado desde hace mÁs de 10 aÑos. quienes se oponen dice que es un malgasto de dinero. indica no estar en contra del servicio esencial en otro idioma. pero afirma que ese dinero que se utiliza en traducciÓn, se puede utilizar para que muchos aprendan inglÉs. presentador: muere en nicaragua. de quÉ pecado preso polÍtico y es guerrillero histÓrico del sandinismo. presentadora: y a pesar de los problemas de suministro, las flores de muchos paÍses hispanos llegan a estados unidos pa

. >>> ppp funds. they were meant to bail out people from financial trouble. but one woman in florida is accused of using the money for somethg el >>> baseball spring training, will we get the games? well pitchers and catchers were supposed to start reporting today. but the players union and the owners are still in a labor war. as the mlb lockout drags on it's affecting communities across arizona and florida that really rely on the big business with spring training. data shows the great fruit and cactus league brought in 1.3 buildings. the majority flowing from out of state residents. the pandemic screwed up the past two years of spring training and it's looking more likely that the schedule this year might get cut short as well. no official word from the league for now the first preseason game set to start next weekend but no pitcher a and catchers in glendale springtime home of the doojers and white sox. for the moment our jane wells hi, jane. >> shep, i shouldn't be here there should be catchers and pitchers everything is wrong and nothing is zun to make it

. >>> ppp funds. they were meant to bail out people from financial trouble.ut one woman in florida is accused of using the money for somethg elinse like hiring a hit man. like hiring a hit man. coming up. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking your full . making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. >>> baseball spring training, will we get the games? well pitchers and catchers were supposed to start reporting today. but the players union and the owners are still in a labor war. as the mlb lockout drags on it's affecting communities across arizona and florida that really rely on the big business with spring training. data shows the great fruit and cactus league brought in 1.3 buildings. the majority flowing from out of state residents. the pandemic screwed up the past two years of spring training and it's looking more likely that

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businesses covering every sector of the illinois economy, especially those that were left out of the federal ppp program. because of it, tens of thousands of jobs in every part of our state were saved. we also needed to keep struggling families from being forced out of their homes by the pandemic recession. so with the help of representative delia ramirez and senator omar aquino, the illinois housing development authority went to work, providing some of the fastest relief for landlords and tenants among all the states. more than $1 billion has kept renters and homeowners from losing their housing, with hundreds of millions more to support them in the first half of 2022. a prohibition on covid-related evictions, utility shutoffs, and vehicle repossessions protected those suffering pandemic-related hardships. throughout this deadly pandemicp i've governed with a consistent philosophy, protect the most vulnerable, offer simple and straightforward help through the hard times, and make illinois at example for the rest of thee country for how to manage through the crisis. [applause] because of the ama

in april 2020 when fauci forced your business to shut down, his restaurant got a big fat ppp loan over's a loan, he has to pay it back." wrong. it has been completely forgiven. the question is, did our money at least go to good use? was the restaurant worth saving? or is fauci running a wet market in the city by the bay? we sent a reporter deep, deep undercover into the restaurant to find out. >> let's see what they've got in the back here. monkeys here >> jesse: steve hilton is our man on the inside. steve, how did you get into the back of the restaurant? >> i looked everywhere, jesse. honestly, i looked everywhere, no bat viruses to be found, a big disappointment. i don't know what he stash them away but it was not in that restaurant. i got to tell you, that was a nice place. we had a wonderful meal, the food was delicious, service was great, good value, it was a sweet place. i left there thinking if only fauci, ten years or so ago, had decided to retire and focus on his restaurant investments, maybe there would have been no pandemic at all. >> jesse: that it was his real calling, re

one thing the administration focus on was making sure the ppp program the parol protection program actuallyent to those who needed it the most. and there is no research showing actually wants administration came into office more workers more business owners of color and women were able to access that program. that is one way. with that shows is that you actually need to have a focused attention which is why president biden as a chair or row's saidd the whole of government approach to equity to addressing climate change and to issues around market structure and competition because it is only through making sure policies are focused on being inclusive and making sure those at the top are not able to be unduly rewarded will be able to have that kind of strong stable shared growth. i want to just end with a couple of notes to echo what she or roast said. certainly the bipartisan infrastructure law is important down payment on equity in a variety ofn ways. but i cannot stress enough how "build back better" is to make sure we are addressing the needs around care and climate across the u.s. econom

might they expect at this point what are the prospects >> so many of these businesses were held by ppp and the restaurant revitalization fund they are pushing for another $48 billion to replenish the rrf they say that would help to resolve some 120,000 applications that are sitting with the sba from restaurants that need aid that weren't able to get surveed under that program because there was just under 30 billion it was smaller than many of the other aid programs as we know, some of the restaurants are struggling >> for sure. kate, thank you. we appreciate it our kate rogers. we should note nbc universal and comcast ventures are investors >>> tensions at the ukraine/russia border are easing will it last my next guest goes through several scenarios. >>> and during february we're celebrating black history and featuring some of our council members. >> my advice to future leaders is to co-create a collaborative environment with your team be a leader, not just by title but also by example. and specifically, to the black leaders, continue to be yourself unapologetically no one is you, and

. >> whether it's restaurant relief, ppp, fda, whichever vehicles that we're using to make sure thatittee for responsible budget says there's at least $200 billion in unspend health dollars. lawmakers from both sides are leery of more spending as inflation spikes. >> i don't think that they need more money. i think they need to spend the money that's been appropriated with various bills, more than half bipartisan in a responsible way. >> it's a challenge for lawmakers to fall on the proper side of covid policy as the virus mutates. >> republicans have to be careful in calling for an end to mask mandates and opposing some types of pandemic spending that they don't end up in a situation where if there is another wave, then democrats will say, you guys were ostriches, burying your head and the sand and ignoring a huge challenge. >> however, the gop says it was democrats that fueled inflation thanks in part to their big covid bill last year. sandra? >> sandra: very interesting stuff, chad pergram. thank you. coming up, the governor giving the power back to parents when it comes to maskin

ppp, the mask and the gowns and all the gear. >> and those are just the acronyms joe couldn't get rightn the last year. we've all seen the gaffes where he brain farts people's names, messes up words, and not one peep from jimmy kimmel and the mainstream media. yet you mess up one word and you're the devil. >> jimmy: yeah, no. she's not the devil, the devil is smart. [ laughter ] [ cheers and applause ] and by the way -- the devil, he's a clever guy. if joe biden walked into restaurant and ordered a bowl of gestapo, you better believe i'll mention it. [ laughter ] that is my commitment to you. we've got a lot of oddballs running this country. not just on a national level. this is from a city council meeting last week in hudson, ohio, during which the now former mayor suggested allowing ice fishing in the park might somehow lead to prostitution. >> additionally, if you open this up to ice fishing, while on the surface it sounds good, what happens next year? does someone come back and say, i want an ice shanty? for x amount of time? if you then allow ice fishing with shanties, then that le

ppp loan can for many. i mean, just remarkable. you can pronounce hydroxy-chloroquine now. where you may have more interest in ivermectin. it's just an amazing journey. we've been on. but it's not been linear. and that's why we need to prepare for the unknown. but again, with confidence and more knowledge and more resources more resourceful mindset. and so i'm really proud of the team for working this that i think this may be the first in the nation. but that should surprise you. we've been first and so many other categories throughout this pandemic. but the first, you know, that's hard to sometimes do. because for the first to have expressions of concern and opposition not just support. and and so final words. being first in this space. doesn't mean we're best. but it means we're a lot better. and it means will continue to be better as long as we maintain an open this argument, we maintain interest in evidence, data and science and we do not. it can soon by the ideology that has taken over so many parts. and parties in this country. will not happen in the state of californ

she needs to be there to report on the ppp program.y is in charge of that program, not sba. as a result it is her responsibility and statutory duty to show up. she refuses to do that. i sent her another letter this week. we're continuing on a regular basis to highlight her absence, thumbing her nose rules and laws justly passed by this congress. administration does nothing about it because they don't care. charles: let us know when and if you get an answer. congressman, appreciate it. >> thank you, charles. charles: i will handicap big earnings coming out after the close, including facebook/meta. new etf don't need the results. they're already shorting the stock. the fund's founder will explain why next. throughout history i've observed markets shaped by the intentional and unforeseeable. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns. trelegy for copd. ♪ birds flyin' high ♪ ♪ you know how i feel ♪ (coughing) ♪ breeze driftin' o

there was the restaurant act, ppp, there was all sorts of aid, are we forgetting now coming out of itd flare up, we need more money, in a normal year, businesses open, businesses close, that's part of the normal business cycle. the government doesn't show up every time there's an issue. >> yeah, in fact, business dynamism has been restored by the pandemic, and there are many more businesses opening now in the last couple of years than there were prior to it. there's a lot of creative destruction, i don't want to minimize the pain. the business sector overall is doing well. i think there were three major pandemic aid programs, there was the unemployment insurance extensions, there were the household payments, and there was the business payments, the paycheck protection program. of the three, the paycheck protection program probably had the highest cost per good done. and it was the most regressive in terms of distributional properties, most money going to wealthy households. unfortunately, consumers don't have lobbyists going to congress saying i really love my 600 or $1,200 paycheck t

this isn't ppp money.lly impacted one way or another by covid, this covid relief plan allowed her to take this money. that's the law if you will. in regard to the homes that she bought, the mortgage applications, certainly we were not aware, she was not aware of the tax liens at issue and given the ira and under staffing and over worked issues we've seen, we could have certainly shared that with the government but this was a criminal tax investigation. and so again, if you're not willing to talk with us, this is a sitting government official who every day wakes up to do law enforcement and enforce the law and protect the citizens of baltimore, if you won't talk with her or her lawyers before you get an indictment again, you're not really interested in justice. >> so are you saying that, you know, you attempted to talk with this prosecutor, did you attempt to contact the prosecutor to explain what happened and how this money was acquired -- >> absolutely. we have offered to -- i offered to go in front of th

most two years after the pandemic including ppp loans and federal the packages and a historic bipartisanstructure bill our economy is onc, its way to recovery. we cannot ensure full recovery until we have an active and engaged workforce. as president of the kentucky chamber the commonwealth, the number one issue i hear from businesses of all sizes and sectors are the struggles of the workforce to find employees we often say we have too many people without jobs into many jobs about people and how we need to make them match and in that climate it is refreshing to say that this issue sees no side of the aisle. leaders of both parties for solutions a last several years the kentucky chamber has created programs to provide employer led initiatives to develop and strengthen the workforce to supportrt the kentucky economy would like to tell you about a few the programs relevant to this topic. like many states in kentucky high substance use disorder numbers and high levels of incarceration. so the key to reducing recidivism is meaningful employment. as well as private entities that chamber starte

>> there were residual money from the ppp program that was able to be allocated for the pop-up program. the heart of it is not ports were never designed to be storage compounds. they're designed to be transit points on the journey of cargo for morris manufactured for where it's consumed. i think opening the terminal, making the terminals open longer hours and getting it and creating these pop-up facilities to get it away from the marine compound are two examples that have definitely helped ease some of the pain we've been feeling. of course we are super enthusiastic about the infrastructure money that is headed our way. but as you can appreciate, it's going to be 18 months or so before we start seeing the fruits of that money come through inefficiency. doug >> i think we are waiting on mr. gottheimer -- are you back with us? >> is that better? sorry about that. -- remain strong even with growing competition, but the discriminatory practices upon [inaudible] global markets -- we know it's an all-time high. a number of these containers loaded for that port cargo since 2015. mr. seroka an

waste and fraud which is a huge part of what has been happening here, particularly with regard to the ppp program, et cetera. but somebody has got to track down where our money is going before we spend another dime. i mean they want to roll out a whole another trillion dollar covid relief plan. it is just crazy, russ, thank you very much for being here. appreciate it. >>> rules for thee but not for me. topical important democrats spotted maskless at a rams-49ers game over the weekend beginning with the governor despite covid restriction in l.a. county. we'll tell you all about when we come back. ♪ ♪ ♪ you can't buy love. or peace. you can't buy security. you can't buy happiness. you can't buy confidence. but you can invest in it. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes o