Co-founder of Apollo Global Management, a private equity company with financial ties to White House Advisor Jared KushnerJared Corey Kushner A private equity firm linked to Kushner calls on the Trump administration to loosen the rules on the lending program: a report Decentralized management raises questions about the response of the coronavirus Trump. Resistance to social displacement raises new concerns | Controversy over the change in the definition of national stocks | McConnell Reports Fourth Coronavirus PLUS Billasked the Trump administration to relax the stimulus bill to benefit their business, according to an email obtained by NBC News.
NBC reported that the email was sent by Apollo co-founder Mark Rowan, a source close to Kushner said. The source said there was “nothing remarkable” in the email to the White House adviser.
Unlike dozens of other companies from which Kushner receives proposals, Apollo granted a loan of $ 184 million in 2017 to Kushner Companies, the real estate company in which Kushner, president Donald trumpDonald John Trump Pelosi plans to file fourth NBA coronavirus bill in late April to supply 1 million surgical masks to essential workers in NY Kushner-linked private equity firm calls on Trump administration to ease Loan Program Rules: PLUS ReportThe son-in-law of his son retains an interest.
Rowan and his company have made a recommendation for a $ 100 billion loan program announced by the Federal Reserve to support lenders and investors, asking them to set their requirements so that their higher risk loans can qualify. The loan program is an effort to get cash into the financial system amid the economic fallout from the coronavirus pandemic.
According to the news source, Apollo Global Management does not qualify for the loan program, they are “at higher risk and lower rated”.
“There was no MORAL DANGER. We have a very unique situation, “reads the email. The phrase is an apparent sign of the 2008 financial crisis, in which critics called it “moral hazard” to bail out banks that have made bad investments, according to the NBC report.
Friday, Bloomberg reported bank executives concerned about the $ 349 billion small business emergency program created in last week’s $ 2.2 trillion coronavirus stimulus bill have contacted the daughter of Trump and his senior advisor Ivanka TrumpIvana (Ivanka) Marie Trump Kushner-linked private equity firm calls on Trump administration to relax rules on loan program: Overnight Health Care report: CDC recommends covering face in public | Resistance to social displacement raises new concerns | Controversy over the change in the definition of national stocks | McConnell Reports Fourth Coronavirus Money Bill: Economy Cuts 701,000 Jobs in March | Why unemployment checks could take weeks | Confusion Around 9B in Small Business Loans LEARN MORE when they were trying to negotiate higher interest rates.
Leaders have questioned the paycheck protection program, which provides generous loans to small businesses with the caveat that they use at least 75 percent to pay their employees.