It pays to have them.
About $20 million taxpayer dollars worth, it turns out, if you’re friends with Joe Biden.
….. in 2012, OPIC approved a $20 million loan to help an American businessman build a luxury car dealership in Ukraine. Here’s how OPIC described the project they were financing with taxpayer money:
The proceeds of the loan will be used to (i) expand Winner Import Ukraine’s automobile business, (ii) construct and operate “Winner Autocityâ€, which will have two new, state-of-the-art dealership facilities for Porsche and Land Rover/Jaguar automobiles, each of which will be “3S†(showroom, service and stock)
The car dealer, John Hynanksy, happens to be a good friend of Vice President Joe Biden and a donor to President Obama and Biden. When Biden spoke in Ukraine in 2009, he called out “my very good friend, John Hynanksy, a very prominent businessman.” In that same speech, Biden said “Democracy and free markets work best when they deliver what people most want.”
I’ve posted on my feelings of the waste that Overseas Private Investment Corporation in the past.
In this case, they gave $20 million to a guy who was not going to employ a single taxpaying American, or sell American produced goods, in a country that was run by one of the most corrupt governments on that side of the Atlantic.
I’m sure that some of Putin’s favorite and most trusted advisers are very thankful for your contribution to their new personal transportation options.