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Finding specific language in the CARES act

TheSiege

Diamond Member
Jun 5, 2004
3,919
14
81
Here is the text of the bill
I agree with democrats that oversight needs to be tighter, but I cant seem to find language in it that shows that Mnuchin has sole discretion.
Basically, where in the bill is the language that Dems have an issue with?
 
Jan 25, 2011
15,998
7,380
146
Search for "discretion". Under Loans and Loan Guarantees it as at the Secretary's discretion.

(c) Loans And Loan Guarantees.—
(1) IN GENERAL.—The Secretary shall review and decide on applications for loans and loan guarantees under this section and may enter into agreements to make or guarantee loans to one or more obligors if the Secretary determines, in the Secretary's discretion, that—
(A) the obligor is a eligible business for which credit is not reasonably available at the time of the transaction;
(B) the intended obligation by the obligor is prudently incurred; and
(C) the loan is sufficiently secured.
The Dems want to make sure that, for example, Trump isn't gobbling up these loans for himself by having more accountability at the front end. Not allowing them to wait six months before they tell anyone about the loans.
 

pauldun170

Diamond Member
Sep 26, 2011
7,172
2,355
136
Anyone Surprised?


LOL
Sneaky corporate bailout
Waiting for GOP to start spreading talking points that all the stimulus checks are being spent on Menthol's and Old English in "urban areas" and sanctuary cities. That the checks were intended by Jesus to be spent on paying bills so it only makes sense to bypass the middleman and that jesus gives the check to directly to the banks because of "shareholders"
It will be topped off with a complaint that communist\socialist don't accept that food and necesities are best provided by churches that celebrate jesus and stuff and maybe they should instead pray for the president becuase his job is hard.
"You just can't imagine how hard his job is and so much stress and things...so please pray for the president." -direct quote


This post inspired by reading posts made Foxnews idiots on social media and on this site.
 

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