Captain Morgan Got $2.7 Billion In the TARP Bill
Not only that the Captain is a British Company. And they make a crappy product.
June 26 (Bloomberg)—In June 2008, U.S. Virgin Islands Governor John deJongh Jr. agreed to give London-based Diageo Plc billions of dollars in tax incentives to move its production of Captain Morgan rum from one U.S. island—Puerto Rico—to another, namely St. Croix.
DeJongh says he had no idea his deal would help make the world’s largest liquor distiller the most unlikely beneficiary of the emergency Troubled Asset Relief Program approved by Congress just four months later.
So now we’re giving our money, that we don’t have, to a British company that makes a crappy rum. I’ve always wondered where they get the bucks to run all of those stupid TV ads. Now we know.
Each and every boondoggle in the TARP plan and the Stimulus plan should be used to defeat any incumbent that voted for those pieces of garbage. There’s no excuse for this stupidity.
