Convicted Felon Gets $7.45 Million USDA “Stimulus” Loan
Hey, it’s less than $10 million, that’s chump change when it comes to these stimulus spending debacles.
The 2009 Obama stimulus package is a constant source of stories about incompetent bureaucrats in Washington wasting taxpayer money, with Solyndra being the most famous of them. The latest story involves a man, David Myers, getting a guaranteed $7.45 million loan from the United States Department of Agriculture. His company, Ways LLC is using the guaranteed loan to purchase a home health agency in Mississippi. What’s the problem with this loan? Amongst other things, Myers was involved in a high profile case of corporate fraud.
You’d think there would be some government standard preventing the feds from giving our tax dollars to criminals, but according to Bloomberg “Federal law prohibits the USDA from making a grant or providing a loan or loan guarantee to corporations or executives who have been convicted of a felony within the preceding two years.”
A search of the FEC database of individual contributions doesn’t show any political gifts from a David Myers employed by Ways LLC or from Mississippi.Tags: barack kobama, Stimulus, USDA