Shame
Did anyone catch the KELO news report last night on the guy out in Belle Fourche? The gentleman with KBFS-AM who applied for and was granted a 9/11 loan for companies impacted by the 9/11 attacks. It’s not often that a South Dakota news report makes my mouth hang open in shock. But this dude did.
As you have probably read, the guidelines for being considered “impacted” were pretty loose. If you were a business adjacent to the twin tower complex, you were impacted. And apparently if you were a radio station in South Dakota who covered the event – and didn’t play revenue generating commercials – you were considered impacted.
But in response to that sentiment, the Radio Station owner just has to go a little too far.
Good lord. At least some of the other people who got some of the questionable loans didn’t realize it, or are intelligent enough to not criticize people more directly affected by 9/11 who didn't go get SBA loans.
There’s a word out there that seems appropriate to bring up at this point: hubris. As defined by Wikipedia:
As you have probably read, the guidelines for being considered “impacted” were pretty loose. If you were a business adjacent to the twin tower complex, you were impacted. And apparently if you were a radio station in South Dakota who covered the event – and didn’t play revenue generating commercials – you were considered impacted.
Station Owner Karl Grimmelmann said, "We were airing the national thing because it was of national importance. Nobody knew what was going to happen the next day. There was two solid days of new coverage of what was going on, what we could anticipate."Yeah, most of us are scratching our heads on that one, and a few of the other examples, and saying “ok, was that really what it was intended for?” Didn't the whole economy take a downturn? But everyone in the country didn't intentionally apply for a disaster loan on that basis. So, as a public, we're going to grumble about it.
He says the extended coverage hurt business because the station lost advertisers and money from commercials.
Grimmelmann said, "A lot of bills weren't getting paid."
So when Grimmelmann heard the U.S. Small Business Administration was offering loans to help businesses affected by the attacks, he didn't hesitate to apply.
But in response to that sentiment, the Radio Station owner just has to go a little too far.
Grimmelmann said, "We applied to the SBA. Those notes had to be applied for...the deadline was May 22 of 2002."Yup. Those words actually left the orifice he calls a mouth. "Shame on them, not shame on me."
Just one month later, he got a $135,000 direct disaster loan...money that could have gone to those directly impacted by the attacks.
Grimmelmann said, "If they think the money should have gone to them...why didn't they apply? Shame on them, not shame on me."
Good lord. At least some of the other people who got some of the questionable loans didn’t realize it, or are intelligent enough to not criticize people more directly affected by 9/11 who didn't go get SBA loans.
There’s a word out there that seems appropriate to bring up at this point: hubris. As defined by Wikipedia:
Hubris (or 'hybris') is exaggerated pride or self-confidence often resulting in retribution.We’ll have to wait and see if the SBA starts up the Hubris Loan Program, because with an attitude like his, I’m sure Mr. Grimmelmann might find himself experiencing another downturn in business after his KELO interview.
Modern negative consequences of actions stemming from hubris appear to be associated with a lack of knowledge, interest in, and exploration of history, combined with overconfidence and a lack of humility.
Comments
In normal times, we expect it. If the "skim" stays manageable, most of the money usually goes where it needs to and Congress' porking out doesn't completely break the budget.
Katrina, however, looks to perhaps be the breaking point of the old pork-barrel game. The Homeland Security spending spree is probably the most eggregious example of looting the Treasury seen since some of the defense contract scams Harry Truman's committee exposed during WWII.
The Federal government doesn't need to buy new fire trucks for Avon or chemical protective suits in Pukwana. If the folks in those town believe they need them, they will find a way to pay for them. That's local goverment. That's what we conservatives are supposed to embrace.
Mr Grimmelman could be the poster child for this mad spending spree the country has been on since 9/11. While we expect spending from the left, It's with shock and awe that I've watched fellow conservatives take a "grab what we can" approach at all levels of government.
Katrina, unfortunately, has shown how all the pork has left us exactly as we were on Sept. 10, 2001: unprepared and unorganized.
Don't chastise this guy for saying "shame on them". Remember, "them" is really all of us.
I agree with mhs 100%.
Those thievin' bastards put money on the table, and Karl bellied up. Good for him. He'll vote for 'em, too.
Who should be put against a wall and shot?
Them, for stealing our money and offering it to freeloaders in return for votes? Or the freeloaders, for simply taking what's offered?
Still doesn't make it right, or his "F U" attitude acceptable.
PP, you act as if the program itself was honorable, good, necessary and compassionate. The program was the antithesis of all those adjectives.
One thing the program was, was honest. It said, "This disaster (twin towers) was our (the gummint's) fault."
You are right on track. It is simply wrong. I am ashamed that our nation is spending money like drunken sailors in the name of 9/11.
On the heels of recent distorted reports in this publication about a special post 9/11 loan guarantee program administered by the SBA, it's time for a reality check.
In the interest of setting the record straight, let me point out that the SBA had a disaster recovery, low-interest loan program in which it directly made loans to victims of the 9/11 terrorist attacks. Every eligible loan applicant in New York City and across the country who qualified for a loan under this program was able to receive one. There was no competition between small businesses for this money, as implied by these articles.
Separately, Congress pursued legislation to respond to the needs of small businesses across the country which through no fault of their own were adversely impacted financially by 9/11. This resulted in the Supplemental Terrorist Activity Relief (STAR) program. Through STAR, small business could obtain loans, guaranteed by the SBA, at commercially available interest rates.
Finally, because of these articles and misrepresentations, small businesses that received these loans appropriately are unfairly being dragged through the mud. The real "outrage" would be if this sensational reporting also causes them to lose customers. That would truly be a second injury.
HECTOR V. BARRETO
Administrator, U.S. Small Business Administration
Washington, D.C.