After public criticism Ruth’s Chris Steak House, Shake Shack and other restaurant chains are returning loans from the federal Paycheck Protection Program. The economy is still locked down, but already the political backlash against business has begun.

We’re referring to Treasury’s guidance late last week to exclude many public companies from the PPP. Those that have received loans have until May 7 to return the money or face penalties. “Although the CARES Act suspends the ordinary requirement that borrowers must be unable…

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