Friday, August 17, 2012

Crony Socialism Run Amok, Obama-Biden style

crony capitalism cartoon

TheDC's Christopher Bedford reports: "In late July, John Hynansky --- a longtime friend of Vice President Joe Biden, and a major donor to Biden's campaigns as well as President Barack Obama's --- was awarded a $20 million taxpayer loan to build a foreign-car dealership in Ukraine. According to a public summary document, the loan, from the federal government's Overseas Private Investment Corporation, is for '[u]p to $20.0 million," and is designed to "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.'"

A loan for a [non-American-built] car dealership in the Ukraine? Unless this guy is on a secret mission for the CIA in which the car dealership is cover, this seems outside the scope of the Constitution by just a little bit.