Operator
Good day and welcome to the Preferred Bank Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Jeff Haas of Financial Profiles. Please go ahead.
Jeffrey Haas
Investor Relations, Financial Profiles
Thank you, Andrew. Hello, everyone, and thank you for joining us to discuss Preferred Bank s financial results for the fourth quarter ended December 31, 2020. With me today from management are Chairman and CEO, Li Yu; President and Chief Operating Officer, Wellington Chen; Chief Financial Officer, Edward Czajka; and Deputy Chief Operating Officer, Johnny Hsu. Management will provide a brief summary of the results and then we will open up the call to your questions.
Goal: Demand Senator Cruz step down after numerous violations of oath of office.
Senator Ted Cruz has spent the last few months actively undermining democracy and violating the oath he took to defend the Constitution. Even after a riotous mob attacked the Capitol, this opportunist continued his baseless insinuations of voter fraud and led objections that sought to overturn the presidential election. In his spare time, the senator has been abandoning his duty in other destructive ways. For one, he seems to believe working in the best interests of the people means lining the pockets of wealthy, environment-destroying donors.
Taking full advantage of a pandemic that has killed hundreds of thousands of Americans, Senator Cruz secured 35 million dollars in federal aid for billionaire brothers Dan and Farris Wilks. The brothers apparently called up their buddy senator, to whom they have contributed millions in donations, and got him to lobby on behalf of them and their interests for the
$10,000,000.
Each Supplemental SOS Grant will be capped at 50% of the grantee’s initial SOS Grant amount, provided that in no case will a grantee be eligible to receive SOS Grants totaling more than $10 million (as a combination of its initial SOS Grant and its Supplemental SOS Grant).[6]
IV. Allowable and Prohibited Uses of SOS Grant Proceeds
SOS Grant proceeds may be used to pay costs incurred during the period March 1, 2020 – December 31, 2021;
provided,
however, that proceeds of (i) an initial SOS Grant to the extent not expended on or before the date that is one year after the date of disbursement of such initial SOS Grant, and (ii) a Supplemental SOS Grant to the extent not expended on or before the date that is 18 months after the date of disbursement of such Supplemental SOS Grant, must, in each case be returned to the SBA.
Fed s Rosengren calls Biden stimulus plan big yet appropriate bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.