Monday, February 21, 2011

Rich Take From Poor as U.S. Subsidy Law Funds Luxury Hotels

IT NEVER ENDS: Goldman Sachs, J.P. Morgan & Prudential Steal From The Poor To Earn Subsidies On Luxury Hotels - Home - The Daily Bail
"The landmark Blackstone Hotel in downtown Chicago, which has hosted 12 U.S. presidents, opened in 2008 after a two-year, $116 million renovation. Inside the Beaux Arts structure, built in 1910, buffed marble staircases greet guests spending up to $699 a night for rooms with views of Lake Michigan.

What’s surprising isn’t the opulent makeover: It’s how the project was financed. The work was subsidized by a federal development program intended to help poor communities."

LIBERALS, PAY ATTENTION!  When you push power upward, you ASSUME it will be used to help the poor.  IT DOESN'T!  The powerful use power to get what they want.  How many more examples do you need?

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