Biden’s ‘good friend,’ donor receives $20M federal loan to open foreign luxury car dealership

Say what?? I remember Biden bragging about this buddy just a couple of years ago. Just another glaring example of the hypocrisy and crony corruption that has plagued this administration when it comes to Taxpayer handouts to hand picked "winners".

First the green energy BS and now this. All to open a luxury car dealership in Ukraine.

n 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.”

WOW! Glad to help create jobs in Ukraine. Good work!!

Porsche is a German-made luxury and sports car, and Jaguar Land Rover is a British luxury and sports car company owned by an Indian subsidiary.

Under “U.S. Economic Impact,” the summary document says, “This project will have a positive developmental impact on the host country, Ukraine. The project will generate a significant number of new local jobs. Running a dealership for premium automobile brands requires a highly trained sales force, mechanics, accountants, communications and advertising specialists, IT specialists, service personnel, warehouse managers, and customer relations specialists.”

Along with his family, Hynansky and his family also own car dealerships in Pennsylvania and Biden’s home state of Delaware.

During Obama’s 2008 run for president, John Hynansky gave $30,800 to the Obama Victory Fund; Alexandra Hynansky gave $2,550; and Deanne Hynansky gave $2,000 — totaling 35,350 to that campaign.

Read more: dailycaller.com...

Here Biden mentions his buddy at 4:37 But listen to the whole speech and then look at how the money was spent on ONE car dealerhip for luxury brands. WTH.

reply to post by jibeho


Just more proof of the hypocracy and corruption of our Federal government.........No boundaries, comes to mind..

This is crony capitalism, can you please stop calling the Obama admin communist/socialist now? Thanks

Obama supported the wallstreet bailout with no strings attached, but in order for the auto corps to be bailed out they had to reduce their pension and employee wages...this is the exact opposite of what a communist would do.

reply to post by RealSpoke


What could be more Communistic than the all knowing all powerful govt giving it's friends/family special treatment and then spitting on the general populace?

Fixed

American tax dollars hard at work.

I wonder how these people jusitify their behaviour sometimes....I certainly hope its "nobody will know" or "its for the greater good"



How do these people get elected and stay in office....Oh wait, i think i can take some guesses

reply to post by RealSpoke


Though in principle i agree with you but...There is a difference between the bailout which prevented some serious consequences to the US economy as compared to supporting a car dealership...20mil is chump change in the grand scheme of things....

reply to post by RealSpoke


Obama is more of a Collectivist.

According to Encyclopædia Britannica, "collectivism has found varying degrees of expression in the 20th century in such movements as socialism, communism, and fascism. The least collectivist of these is social democracy, which seeks to reduce the perceived injustices of unrestrained capitalism by government regulation, redistribution of income, and varying degrees of planning and public ownership. In Communist systems collectivist economics are carried to their furthest extreme, with a minimum of private ownership and a maximum of planned economy."[6]

en.wikipedia.org...
Obama made this clear the other day when he said that he wanted to repeat his "successful" auto bailout with all manufacturing in the US. Put it all under the Govt. Thumb. NOT Good.

“I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.”

www.politico.com...

Always remember one key take away from Obama and the groups that he has assimilated and affiliated himself with for his entire career.

The ends justify the means....the goal is always for the Greater Good. Whatever good that may be. Certainly not good for the average American or in this case the average Ukrainian.

Jeeeeze .. if he's going to pay off a buddy with this kind of crap, the least he could have done was have the buddy build here in Delware (Bidens home state). Hey Biden ... What good is all this back room buddy dealing if your home state doesn't even get a nod??

Originally posted by TsukiLunar
Why is everything underlined?

I don't know. I must have messed up the coding somehow. Not sure. But annoying!!

reply to post by TsukiLunar


Glad Im not the only one.

reply to post by Domo1


Thanks for your critical insight into this topic. Its fixed. Anything else to say???

Off topic, but thanks for fixing it. Here was the issue i think.

[u ]p to $20.0 million,” and is designed to “expand Winner Import Ukraine’s automobile business, [and]

Weird coding issue. Congrats you found a glitch.

I am unable to see how provide luxary cars locally is suppose to help the American Economy as well Lets all go buy some porsches.

Or perhaps all US citizens have earned a stake in a particular luxary vehicle that will be sold. You could own 1/1000000 of a new car. US Citizens should demand their 20 second drive they are entitled to!

Policitcal maddness

Originally posted by RealSpoke
This is crony capitalism, can you please stop calling the Obama admin communist/socialist now? Thanks

Obama supported the wallstreet bailout with no strings attached, but in order for the auto corps to be bailed out they had to reduce their pension and employee wages...this is the exact opposite of what a communist would do.

edit on 17-8-2012 by RealSpoke because: (no reason given)

Don't you think that "crony capitalism" is a codeword for Marxist/Corporatist ?

It all goes back to Grampaw Karl's commie planks.

Forget the textbook theories in the classrooms.

They took all that to new levels (by design) over a hundred years ago.

There's dozens of codewords.

Originally posted by MDDoxs
reply to post by RealSpoke

 

Though in principle i agree with you but...There is a difference between the bailout which prevented some serious consequences to the US economy as compared to supporting a car dealership...20mil is chump change in the grand scheme of things....

GAAAAAh! Justify much?

"chump change"? well as long as its alright by you I'll take a helping of that. What about the "hungry children" you libs are always bleeding for? This is beyond"just nutz": a luxury car dealership in the Ukraine..
Mr.Biden you ol' "potato head"...

reply to post by 46ACE


I am not justifying anything, i was pointing out the difference between a huge bailout package, compared to $20 million. I think this is ridiculous to and just so you know you i do not identify myself as a "lib" as you call i, but if you want to make assumptions go ahead.

Biden~Democrats~Auto manufacturing~Cronyism~Paybacks~~~There's got to be a Big Union connection coming down the pike somewhere.

Originally posted by MDDoxs
reply to post by RealSpoke

 

Though in principle i agree with you but...There is a difference between the bailout which prevented some serious consequences to the US economy as compared to supporting a car dealership...20mil is chump change in the grand scheme of things....

Not when it's done to favor one party over another.

You seem to have forgotten the EEOC-driven elimination of productive, profitable American dealerships after Obama took control of 2 manufacturers. Each one may have only been about a $20 million operation,but none of the owners, employers, families and communities affected thought they were "chump change."

deny ignorance

jw

I am completely baffled (and furious)!
As I read the the entire article, I was at least expecting to read that this dealership would sell an American made car.
And that still would have bothered me.

But to open in the Ukraine, and sell German and British made vehicles?
With American tax dollars?

Words are currently failing me.