The evidence is in and it is disgusting. Billions of your tax dollars – and those of your grandchildren – were hijacked by big banks and their big corporate customers.

This left little loan money for the small businesses that the loans were supposed to help.

Federal bailout funds meant to save American jobs went to major corporations, universities and dozens of big law firms. Some of their partners earn more than $1 million a year.

The $521 billion in loans also went to well-heeled and politically connected firms, charities and restaurant chains. Hedge funds and private-equity firms received millions of dollars in taxpayer-backed loans even though their banks were told they weren’t allowed to get the money, Small Business Administration data shows.

Instead of making small business loans, 2 of our biggest banks, JPMorgan Chase and Bank of America, will split up to $2.6 billion in fees for loaning money to their big corporate customers – far more than any other lenders made.

University of Chicago research found the loans had a small effect on employment and local economies because the big borrowers did not use the money to bring people back to work. They used it to strengthen their balance sheets and liquidity.

Critics have blamed the Trump administration for what was essentially a loan program devised by a divided Congress with a lot of non-stimulus money earmarked for favored firms and Congressional causes.

The real culprits were:

• The Small Business Administration and Treasury Department for failing to track where the money was going.

• Big banks which did not want to deal with Mom and Pop businesses and sole proprietors.

They could make more money off big loans to big companies with less risk and great reward.

If there is another round, the blood suckers should not only be disqualified but penalized for predatory lending.

We welcome your thinking on this challenging subject. Please write JerryBellune@yahoo.com

The blood suckers should be penalized and disqualified from making future loans.