Yet another privatization of gains and socialization of losses.
We can handwring about accountability and regulation all we want, but when the culture of business (especially big business) becomes devoid of any consideration of the greater good, the society is likely doomed.
yupppppppppp Our bank told us to wait to apply until they gave us a signal. They waited until all their franchisers and large accounts had signed up, then answered the phone with "oh, yeah, we screwed up and a lot of businesses didn't get a chance to apply. Too bad, so sad." PPP Round 2 was even funnier. One of the requirements was documenting that you had experienced economic hardship between Round 1 and Round 2. When we chose not to apply because we couldn't honestly do that, a banker suggested I could try harder.
We spent about a third of it on computers and servers and medical equipment to let us do telemedicine more easily. We also got an ultrasound and an NST machine because we wanted to minimize medical contacts so we only referred out that stuff if it was outside our scope. Then we put about a third of it into bonuses for the employees. We told the government of course that we spent it all on employee salary because that's far and away the easiest way to make them shut up. I'll bet that report is whingeing about that: "well but you didn't use the money to pay salary the way you said!" Yeah, but we paid salary. And we kept that bonus until the vaccines came out, because we knew one COVID exposure would shut us down for three weeks. (PPP was not enough to cover three weeks of operation) Fuckin' of course "72% of PPP funds went to households with incomes in the top 20% of the national distribution" we call those "business owners." Don't own a business? Don't get to apply for PPP. This is pretty fucking simple. Now granted - we have one business with, at the time, 5 employees. Kid's friend's parents own a couple dozen IHOPs. you damn betcha they're in the top 20% too LOL What was really funny was the medicare/medicaid loans. We serve around 30% medicaid patients, which means we were eligible for special medicaid grants. One of those was nearly as big as PPP, and the management of that loan didn't go through the banks (who made 3-5% on every loan) it went through an insurance company. Guess which was more efficient? Guess which had more paperwork? And then a couple months later I get an email: "If you can tell us to the penny how much money we just deposited in your bank account, you get to keep it." Program had more money than recipients so they topped us up with like $13k. 
"It's one conscience, Michael, what could it cost, 9,000 dollars?"