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
What do you do?
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?
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?
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.
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
38 comments:
Obama thinks he can say anything and the dumb people who voted for him and WILL vote for him again will believe it. No matter if it's a LIE or not. No matter how outrageous a LIE it is. These people will vote still for him. And after the decades-long of HIS affirmative action career, winding up in the presidency that HE gained through a vote for the black-man and he’ll give you "Something for Nothing" campaign, these people as so friggen stupid that they still haven't learned. Most of these people are freeloaders and have spent their entire life about getting "Free-Sruff" from the government.
Can Obama can go much lower? I think that he can and will.
Silly!
Don't you realize that now Porsche and Rover will be FORCED to open mfg plants here in the US?
Right?
When Obama palled around with domestic terrorists like Bill Ayers a former Weather Underground leader,and studied and taught Alinsky's Rules for Radicals, bows to our enemies , had a 20 year relationship with a anti American like Reverend Wright! the same anti American who was Obama’s Family Pastor for 20 years and baptized Obama’s Children!
And who shuns our allies, trashes our honest business-men, trashes our economy, and turns his back on our Constitution, we pretty well get a picture of what he thinks about America.!!!!!
This goes way beyond patronization and dipps, as you say, deeply into corruption.
Those running our country exhibit every single characteristic of Chicago thuggery on the order of Al Capone.
This is why the federal government should not be engaging in anything like this:
"$200 billion of investment in more than 4,000 projects, and generated $75 billion"
Any private firm would be out of business with return on investment like that.
You've nailed it. These programs are taxpayer-funded honeypots for the politically well-connected.
Great post! The OPIC is just one of many Federal agencies that need to be closed down. The Chicago pasystem is all Obama knows. But previous administration were not immune to the practice either.
I think they really deserve to be called apparatchiks at this point.
Office Promoting International Corruption
You’re right, Jarhead. This morning I was listening to the “Democratic Strategists” argue that Obama has a plan for the next four years. Grow Jobs. Fix Medicare. Fix the economy. Of course, he’s a bit light on the particulars.
Should we call these people “strategists” if they have no strategy? Obama is an empty suit. Who doesn’t know that?
Joe said, "Those running our country exhibit every single characteristic of Chicago thuggery on the order of Al Capone."
Right ... with this difference: Capone went to jail. Obama has a "get out of jail" card, so he isn't worried. As the post says, Corruption Pays.
From Z:
Robert, where was he the last four years, particularly when he had two years of a Dem Congress, right?
NOW he has a PLAN? :-)
I'm hoping the Republicans hammer him over that one...
FOUR YEARS of getting us deeper and deeper into debt, of investing in failing companies of friends, of situations with OPIC in this post, ETC etc ETC etc....and the Dem strategists dare say REPUBLICANS DON'T HAVE A PLAN?
Also, seems to me like the only GOOD ideas in the Health Care plan were those of Republicans, if I remember correctly. But THEY DON'T HAVE A PLAN...
Ed, I'm sure you're right about that. Obama is taking us from Free Market to Forced Market.
Can you spell c-o-m-m-u-n-i-s-t?
Chateau Robert ...no one imagined four years ago that we’d look back upon the late 1970s as the “good old days.” Good Americans have to repudiate Obama this November; America cannot endure another four years of the infamous Obama Gang.
FROM Z:
Mustang, "the 70s"? I'd welcome CLINTON BACK myself!!
I saw a bumper sticker here in LA today, something like "Just because you think someone's cool doesn't mean he can run a country"
Perfect
@ Robert Sinclair...Right you are RS...and I'm sure we all remember this:
From Newsweek for crying out loud!
"In his inaugural address, Obama promised “not only to create new jobs, but to lay a new foundation for growth.” He promised to “build the roads and bridges, the electric grids, and digital lines that feed our commerce and bind us together.”
He promised to “restore science to its rightful place and wield technology’s wonders to raise health care’s quality and lower its cost.”
And he promised to “transform our schools and colleges and universities to meet the demands of a new age.” Unfortunately the president’s scorecard on every single one of those bold pledges is pitiful.
In an unguarded moment earlier this year, the president commented that the private sector of the economy was “doing fine.” Certainly, the stock market is well up (by 74 percent) relative to the close on Inauguration Day 2009.
But the total number of private-sector jobs is still 4.3 million below the January 2008 peak. Meanwhile, since 2008, a staggering 3.6 million Americans have been added to Social Security’s disability insurance program. This is one of many ways unemployment is being concealed.
In his fiscal year 2010 budget—the first he presented—the president envisaged growth of 3.2 percent in 2010, 4.0 percent in 2011, 4.6 percent in 2012.
The actual numbers were 2.4 percent in 2010 and 1.8 percent in 2011; few forecasters now expect it to be much above 2.3 percent this year.
Unemployment was supposed to be 6 percent by now. It has averaged 8.2 percent this year so far. Meanwhile real median annual household income has dropped more than 5 percent since June 2009.
Nearly 110 million individuals received a welfare benefit in 2011, mostly Medicaid or food stamps."
We're on the road to Perdition...thanks to this POS.
Obummer and The “new normal” excuse: Protecting Obama by lowering America’s expectations...
And this is all we can expect or worse if this arrogant, incompetent, corrupt, socialist, ignoramus has another 4 years.
But the president’s a recent convert to this religion of low expectations. He certainly didn’t buy it when he took office.
Back then, he predicted a quick and powerful economic rebound — if only lawmakers implemented his policies, such as the $800 billion stimulus. Which Congress, then with strong Democratic majorities, quickly did.
"So what’s the problem with the Obama recovery?Why is it the weakest since the Great Depression?
Maybe it’s the Obama policies, like a stunning disregard for the trillion-dollar deficits that are likely already a dead weight on growth.
Or maybe it’s the Obama guarantee of more tax hikes and regulation that makes US business too worried to hire and invest.
No, no, no ... Imp. It's not Obama's fault. It's those dad-burn Republicans that refuse to pass Obama's "jobs" bill. Remember the one we're talking about? More police, more firemen, more teachers.
Never mind that these are all government positions. Proletarier aller Länder vereinigt Euch!
"Can you spell c-o-m-m-u-n-i-s-t?"
O B A M A
"It's those dad-burn Republicans that refuse to pass Obama's "jobs" "
I've heard it the repubs fault for no budget! That they filibuster it!
@Mustang
""Workers of all Countries Unite!""
What happens when there are none left?
'I saw a bumper sticker here in LA today, something like "Just because you think someone's cool doesn't mean he can run a country"
Z-In LA no less? Sweet!
No corruption here,just ask any liberal or MSNBC. I am sure they will be willing to give us their version of what corruption isn't
What happens?
Well, I feel quite certain that we'll never run out of government jobs as long as Obama is in the White House.
Remember too ... not every American qualifies as a 40 watt bulb. Some of them are around 10 watts on a good day.
Take for example the female who gave up her job at Disney because she wanted to go to work with a table cloth on her head. I guess she didn't need the money. If she plays her cards right, Obama will offer her a job in the White House Office of Muslim Posterior Kissing. Starting position, SES-2.
@Mustang...
Right you are....sad isn't it? That 50% of the country is two french fries short of a happy Meal?
"female who gave up her job at Disney because she wanted to go to work with a table cloth on her head."
Mustang...don't get me started on this crap...I swear to God I'll go postal. I have definitely had enough of this sheit. And so have 90% of us.
That includes the verified retard we have as VP.
Lisa,
That wasn't me so it does make me happy.
There are lot of Ron Paul supporters in LA. So there IS a libertarian streak more than a Conservative one.
But I randomly met an old man in my neighborhood who's Republican while walking my dogs.
"an old man in my neighborhood who's Republican while walking my dogs...."
Did your dog pee on his leg? Or worse?
Cause that's about what we get from the LSM or the.."regressives".
@ Jarhead...
Tell me...what marine Division / Battalion?
My brother is still a Marine.
72% of Americans say they're not better off and we're going in the WRONG direction.
That's 72% of us who work our asses off to supply the illegals and welfare frauds with their cushy life on our dime.
Do we actually believe that these parasites will ever vote Oslummer out?
Holy crap Batman....am I the only commenter on this here great blog?
BTW...let's frag one of our own too...show the bums that we disdain, reject and think Todd Akin is a consummate ass wipe too.
That a man could actually say that about one of the most disgusting, horrific crimes against a woman and that his back pedaling is unacceptable and just plain bullshit.
I don't want this warped man in the senate.
I have no confidence in the polls. How can 72% of the American people believe they aren't better off than four years ago, while 45% of the American people continue to think Obama is the key to utopia?
I often suspect that pollsters and media are trying to shape this election like they did in 2008.
How about this for an October surprise? Biden steps down and is replaced by Feinstein ...
Re: Atkin, I completely agree. We don't need any more idiots in Congress. 535 are enough.
I actually think that a Cray Supercomputer could do as well or better than most of those idiots. At least with a supercomputer, we could turn it off.
This administration is all about stealing money, advancing sharia in America, and given holder's activities - tearing down America, promoting black power.
Hey Z, maybe all my emails are going to your spam folder ?
Imp. Akin. Word.
FB-Oh I forgot you had alot of that around there. We have our share of Paultards in NY too . Conservatism is growing here,slowly but more so than ever.
Mustang I forgot this was your post . I should have addressed my comment to you. Still getting used to it.
Mustang
Anything involving Joe Biden involves dealing with low IQs and mental health defects and should only be done by trained professionals.
Mustang "How can 72% of the American people believe they aren't better off than four years ago, while 45% of the American people continue to think Obama is the key to utopia??"
I'm not always right (in fact, rarely) but here's my answer:
72% believe they aren't better off than 4 years ago BUT 45% if figure they'll GET better off from the gov't if Obama stays in. Not a happy thought!!
By the way...do you think Dianne Feinstein IS a contender? Have you heard someone mention her?
Could that be the promise they made her for backing off of Fast and Furious a month or so back?
Beak, well said! Sad for Biden; he has had a lot of grief in his life, but to have picked HIM as VP? WHY WHY WHY?
Actually, that's a good blog question: What did BIDEN have that made him the best choice for VP???
LISA, I'm sorry for the confusion; Mustang keeps saying "WE wrote them" but HE's been writing a lot, and I so appreciate it..it's really quite fun and I feel pampered that my blog's in such good hands while I SLAVE a full time work week again after YEARS of not working full time.
I had my own business, but I worked when I was busy, and didn't when I wasn't !..this is WORK :-)
(and great work, I love it)
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