Mnuchin, Trump, and the Payment Protection Program
MNUCHIN
Now, let me make just one more comment on the program. We have over a million companies that have received this with less than 10 workers. So there is very broad participation in really small business. I will comment there have been some big businesses that have taken these loans. I was pleased to see that Shake Shack returned the money. We will be putting out some FAQs. There is a certification that people are making.
And I asked people — just make sure: The intent of this was for business that needed the money. We’ll put out an FAQ. But again, the intent of this money was not for big public companies that have access to capital.
...Again, there is a provision for — you know, where there are multiple affiliates that people can access this, but the intent was not for companies that have access to plenty of liquidity and other sources.
And again, if, to the extent these companies didn’t understand this and they repay the loans, that will be okay. And if not, there’ll be potentially other consequences.
During questions from the press
Q Mr. President, your Florida clubs have had to furlough workers —
THE PRESIDENT: Yeah. That’s true.
Q Have you thought about, you know, asking your family members to maybe keep some of those workers on the payroll to help — sending them to the federal coffer? We’ve seen companies — other companies do that.
THE PRESIDENT: Well, I — you know, yeah. In Doral, you’re not allowed to have the golf courses open. You can’t have the clubs open. You can’t have anything. It’s a — it’s a big hotel and resort. And I think there’s probably 700, 750 people. So you can’t have anything open. And you say, “What are we going to do? Have full payroll and have the whole place with…” You know, there’s no income coming in.
First of all, everyone’s home and they’re supposed to be. Second of all, in Florida, you can’t use golf courses. That one, I’m not sure I agree with. You know, you have parks and golf courses where you have open space. But that’s what it is.
Q You haven’t thought about asking them to keep these —
THE PRESIDENT: You understand that. It’s called closed property, it’s like, you know, you have to close them up and then hopefully when things get better, we’ll just open it up. But you can’t have, you know, many hundreds of employees standing around doing nothing. There’s no customer. You’re not allowed to have a customer.
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Trump doesn't seem to notice that many small businesss are experiencing the same economic factors, with no capital to draw on. (His analysis shows an in-depth knowledge of economics, don't you think? 
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