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Coronavirus !!! Very Political Thread !!!

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fuckin love data broh. fuckin love it. lets get some data-driven solutions all up in this crisis broh. shit is toast. if we put the market and a coronavirus in a ring broh, you already know who's walking out of there without a scratch broh. that's what i call an informed fuckin decision broh.
 
palmab03 said:
A little update on how this $350 million is going out to small businesses: The government application program goes online tonight, and our relatively small bank has 600 applications. They are expecting maybe 5 to go through until the system runs out of money, that is, if the system doesn't crash first. The instructions were first posted yesterday. So $350 billion in 5 minutes, first come, first serve, until the funds run dry.
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Our banker was off by a zero. My math shows this will pay 2 months of about half the small businesses in the country. Mix with 4 months of unemployment, the government is basically paying the wages of the entire country for 6 months. Crazy.
 
What the hell ya complaining about. Kushner updates are a huge upgrade to what we were getting before.
 
I work for a big bank that will be an integral part of administering the SBA-backed program. We will almost certainly lose money on this given we are lending at 0.5% and have to allocate a ton of resources to the review and processing of applications. We also are open to a ton of liability which I assume the government will eventually indemnify us against but for the time being we are on the hook for validating what our clients submit to us. So yeah not a great situation. And the government is leaning hard on us to be ready to go tomorrow even though the actual parameters of the program are still in flux. It’s been chaos.
 
WRS said:
I work for a big bank that will be an integral part of administering the SBA-backed program. We will almost certainly lose money on this given we are lending at 0.5% and have to allocate a ton of resources to the review and processing of applications. We also are open to a ton of liability which I assume the government will eventually indemnify us against but for the time being we are on the hook for validating what our clients submit to us. So yeah not a great situation. And the government is leaning hard on us to be ready to go tomorrow even though the actual parameters of the program are still in flux. It’s been chaos.
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My bank is submitting 600 applications tomorrow, and it's a pretty small bank. No one has figured out yet what time period to even use, whether it's 2019 (as the instructions say) or a trailing 12 month period (which the instructions said 2 days ago, and which ADP is using on their reports).
 
I just got the notification from the bank that they aren't responsible for the accuracy of the data 20 minutes ago.
 
Damn. I’d call for a spoiler alert but I’m the only person who hasn’t seen that show.
 
PhDeac said:
Damn. I’d call for a spoiler alert but I’m the only person who hasn’t seen that show.
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Yeah, you're gonna need to avoid every form of social media till you burn through that one, bro.
 
If that’s a spoiler, don’t even read a description of the show. Also just watch it next. It’s terrific.
 
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