All we can say is, the system allows it. So, what does that say about the people participating in the system? How about the ones who created the system in the first place? (or better yet, the ones who allow it to continue?)
Bloomberg: Hedge Fund Managers Claiming Bailouts as Small Businesses
“A manager with a healthy business who takes advantage of a program that isn’t “precisely defined, is not only showing poor moral judgment and potentially hurting the reputation of the alternatives industry, but it’s also probably crowding out struggling workers and businesses severely impacted by Covid-19”
“One manager, who asked not to be named, said he was outraged when he received a note from his accountant analyzing his potential eligibility. Why, he asked, would a hedge fund that collects management fees, and can make money if it’s skilled, avail itself of a government handout?”
“It’s a complete abomination,” agreed Nate Koppikar, a partner at San Francisco-based money manager Orso Partners. He noted that firms that avail themselves of the money may later be publicly identified under the Freedom of Information Act. “