Feds back defaulted loans for luxury businesses like Lamborghini dealers - Watchdog.org:
"The Small Business Administration recently got into the Lamborghini business not once, but twice –– just two of more than
$8.7 billion worth of failed loan guarantees that potentially left taxpayers on the hook for nearly $1 billion, a Watchdog.org investigation found.
Since 2009, SBA lenders charged off loans backed partly by taxpayer dollars, including
$139 million for liquor stores and bars,
$56 million for car dealerships,
$25 million for country clubs, about
$21 million for boat dealers, and
$4.5 million for wineries, an SBA database Watchdog.org obtained through the Freedom of Information Act shows..."
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