A few years ago, the Oakland Tribune ran an article on the “creation of jobs” program under the Clinton administration. Essentially it boiled down to this: The fed gave Oakland hundreds of millions of dollars, to be dispersed as loans to anyone who would promise to create a business and employ others. Every increment of $30,000 given out was defined as one job created. Among the borrowers was a member of the Bey family, who soon defaulted on the loan, like most of the other borrowers, who either skipped town, or had their businesses fold in short order. I’m guessing that an investigation of this loan of over $600K would show a link to that program.
Create 20 jobs with a store front bakery that would be some trick. If what you suggest is true the loan officer would be guilty of gross negligence as would the government official that signed off for the loan guarantee.
But I would not be surprised.
““creation of jobs” program”
This was the thrust as a necessary solution for the high crime rate in Oakland now being touted for resurrection by Dellums & co. as reported on NPR this AM.
The education system in Oakland is and has been a failure for decades and these fools think that the illiterate thugs that it produces want to work or could do a meaningful task? Oh! Puleeessseeee ... my sides are about to split!
Paging Buffy ... Ms. Buffy, ... Ms. Buffy please report to Oakland City Hall asap.