VP Biden's 'Good Friend,' Donor Receives $20M Federal Loan for Car Dealership in Ukraine: Should Taxpayers Subsidize Vice President's Friends?
Fef
2012/08/20 22:03:14
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Vice President Joe Biden's friend received a federal loan (taxpayer money) from the Overseas Private Investment Corporation. Documents show the loan goes to "LLC Winner Imports Ukraine, Ltd, a limited liability company organized and existing under the laws of Ukraine." The $20.0 million loan will help “expand Winner Import Ukraine’s automobile business, [and] construct and operate ‘Winner Autocity,’ which will have two new, state-of-the-art dealership facilities for Porsche and Land Rover/Jaguar automobiles.” The document also states, "The project will have a negative five-year U.S. balance of payments impact."
John Hynansky, a "good friend" of Vice President Joe Biden, has regularly donated to Biden's political campaigns. Hynansky has donated over $60,000 to Biden and Obama.
President Obama and former Speaker of the House Nancy Pelosi (D-CA) promised America the "most honest, most open, most ethical" government in history. When politicians promise ethics, grab your wallet.
Has power corrupted Vice President Joe Biden and the administration? Rush Limbaugh suggested that the stimulus money has turned into a tool of political corruption for those in power. Rush described the stimulus money as "nothing more than a money laundering slush fund.” Lord Acton said, "Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men."
What do you think? Should taxpayers help Joe Biden's political donor build a $20M auto-dealership in the Ukraine?
DAILYCALLER.COM reports:
John Hynansky, a "good friend" of Vice President Joe Biden, has regularly donated to Biden's political campaigns. Hynansky has donated over $60,000 to Biden and Obama.
President Obama and former Speaker of the House Nancy Pelosi (D-CA) promised America the "most honest, most open, most ethical" government in history. When politicians promise ethics, grab your wallet.
Has power corrupted Vice President Joe Biden and the administration? Rush Limbaugh suggested that the stimulus money has turned into a tool of political corruption for those in power. Rush described the stimulus money as "nothing more than a money laundering slush fund.” Lord Acton said, "Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men."
What do you think? Should taxpayers help Joe Biden's political donor build a $20M auto-dealership in the Ukraine?
DAILYCALLER.COM reports:
In late July, John Hynansky --- a longtime friend and donor to Joe Biden --- was awarded a $20 million taxpayer loan to build a car dealership in Ukraine.
Read More: http://dailycaller.com/2012/08/17/bidens-good-frie...
Top Opinion
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Rebel Yell 2012/08/20 22:12:10No
+5It is not tax payer subsidized. OPIC has been around since 1969 and has helped thousands of people world wide. I am surprised Fef did not research this before assuming that Joe Biden wielded influence.
You forgot to mention two of the consequences listed in the "documents":
"The project is not expected to have a negative impact on the US economy or employment..
US PROCUREMENT IS EXPECTED TO HAVE A POSITIVE IMPACT ON US EMPLOYMENT".
-Elizabeth Littlefield
http://www.opic.gov/
It sounds like Daily caller is wrong....I went to the OPIC website and suddenly this quote was just sitting there. So to assume this is all taxpayer dollars must be skewed. I wonder if the poster looked anything up before posting?....or He in essence is blindly advancing the lie without checking the facts.
Do Conservatives have a smell test for impropriety? They must not....'cause this doesn't even pass the smell test.
OPIC is a profit-making institution that provides a net surplus for the Treasury, cutting our deficit by $269 million in FY 2011. It gives loans to US companies investing money overseas and collects profit from them, using that profit to fund the next round of loans. It does not take political concerns into account when making loans. There is absolutely no evidence that any political skulduggery was involved in these loans.
Complete and utter nonissue.