Corruption, anyone? Anyone?

Let’s suppose you were a businessman and you needed capital to open or expand an existing business. You develop a business plan and you carry it to your bank to ask for a seed loan. Maybe they look at your personal finances and determine that while it is true you’re a good businessperson, financially, you’re a bit over-extended at the moment. They invite you to piss off.

What do you do?

Like, dude ... there’s money to be made out there. If only you had $20 million dollars, you could start up that new automobile dealership in Ukraine. There’s a high demand for Porsche in Ukraine … or, at least, that’s what your cousin told you.

So, here’s what you do. You go to the Overseas Private Investment Corporation. This is an institution of the United States government. It provides capital to help solve critical development challenges, and in the process, it advances US foreign policy. And because OPIC works with the private sector, it helps US businesses gain a foothold in emerging markets. This helps solidify revenues, jobs, and growth opportunities at home, and abroad.

How does OPIC do this?

We're glad you asked. It provides investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

How does this aid US foreign policy?

You guys are full of good questions! OPIC advances US foreign policy by encouraging development in regions of the world that have experienced instability or conflict, yet offer promising growth opportunities, such as in … well, Ukraine. And, since the money comes from the US government, OPIC helps to mitigate risk to US companies and investors, and it promotes a positive developmental effect for host nations, such as Ukraine.

Did you know that during Fiscal Year 2011, OPIC generated net income of more than $250 million. This helped reduce our federal budget deficit. Well, given our debt, not by much … but it still helped. Since its beginning, OPIC has supported nearly $200 billion of investment in more than 4,000 projects, and generated $75 billion in US exports, supporting more than 276,000 American jobs … when people still had jobs.

Okay, interesting stuff, but —so what?

Writing for The Washington Times, Christopher Bedford tells us, “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 ‘up 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.”

Of course, given that the per capita GDP of Ukraine is $5,400 annually, it is hard to imagine that many Ukrainians will be lining up to purchase a new Porsche or Land Rover … but you never know. Maybe Ukraine is a socialist cesspool like the United States, where the government subsidizes monthly car payments for luxury models.

We realize that given the size of the US economy, $20 million is a mere drop in the bucket. But $20 million for a business opportunity in Ukraine (as opposed to providing seed money for a business opportunity here at home) seems ludicrous.

Oh, and did we mention that Hynansky and his family have been regular donors to Biden’s campaigns, and later, Barack Obama’s? Did we mention that all you need to do in order to get this $20 million dollar loan is mention Joe Biden's name at the OPIC? What an interesting coincidence, eh?

We aren't exactly sure how many US jobs this Ukrainian Autocity will create, but really ... who says corruption doesn't pay?

—Mustang and Z sends