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A DIFFERENT KIND OF RAMADAN A Muslim man offers prayer on the banks of Dal Lake in
Srinagar, Indian-controlled Kashmir, on April 26, the second day of Ramadan. Authorities closed a
nearby shrine, normally packed for the holy month, to prevent the spread of COVID-19. This year,
lockdown measures mean many of the world’s 1.8 billion Muslims are forgoing traditions of large
gatherings for worship and feasts with friends and family to break daylong fasts.
NEWS
TICKER
Florida
felon-voting
trial beginsA class-action trial
began on April 27, more
than a year after voters
opted to re-enfranchise
Florida residents
who complete felony
sentences. The GOP-
controlled legislature
later required that
felons first pay all
court fees, fines and
restitution, effectively
revoking the franchise
for many.COVID-19 set
to hit fragile
countries hardThere could be up to
1 billion infections and
3.2 million deaths from
COVID-19 in 34 of the
world’s most “fragile”
countries—including
Venezuela, Libya and
Syria—according to an
analysis released on
April 28 by the Interna-
tional Rescue Commit-
tee. Given limitations to
the data, the estimate
is likely conservative,
the aid group said.Navy probing
Roosevelt
outbreakThe Navy is opening
a wider inquiry into
decisions surrounding
a COVID-19 outbreak
on the U.S.S. Theodore
Roosevelt, the service
branch said on April 29.
A leaked memo asking
for help with the virus
on the ship led to the
ouster of the carrier’s
captain, Brett Crozier,
and the resignation of
acting Navy Secretary
Thomas Modly.The federal program inTended To
carry U.S. small businesses through nation-
wide shutdowns has faced hitches from the
start: within two weeks of the program’s
launch in early April, its money had run out.
On April 27, the program came back to life
with $310 billion in new financing. After
congressional Democrats prevailed in a
push for new appropriations to cover other
corona virus relief measures, such as emer-
gency dollars for hospitals, legislation fund-
ing the measure passed with broad biparti-
san support —but not all has gone smoothly.
FITS AND STARTS Though more than 1.6 mil-
lion loan applications were greenlighted
through the Small Business Administration’s
Paycheck Protection Program (PPP), de-
lays have been endemic from the start. With
the initiative facing persistent criticism, the
stakes were high for its second round. As the
PPP resumed, some banks reported prob-
lems entering loan-application information
on the first day. But by the next day, $52 bil-
lion in loans had been approved.
“SMALL” BUSINESS Delays hadn’t been the
only cause for criticism. With thousands of
small employers left in the cold after fund-
ing dried up, reports that Big Business got
in on the relief prompted national backlash.
According to a list compiled by data analysis
firm FactSquared, over 250 publicly traded
companies accessed the PPP funds. Some,
like restaurant chains Ruth’s Chris Steak
House and Shake Shack, announced they
would give back the millions they received.FIGHTING WORDS To avoid a repeat, Con-
gress set aside $60 billion for small lenders
in the new PPP funding, and Treasury Sec-
retary Steven Mnuchin said the government
will audit companies that receive more than
$2 million. “The purpose of this program
was not social welfare for Big Business,” he
said April 28 on CNBC. The numbers reflect
that promise—by April 29, new loans aver-
aged about half the size of those in the first
round—but as the pandemic continues, au-
ditors won’t be the only ones keeping an eye
on the program. —alejandro de la garzaTHE BULLETIN
Emergency federal loans for
small business, take two