Monday, March 7, 2016

Trumping Hypocrisy

Jesse Drucker has an excellent piece in Bloomberg News this week, (link here) about how Donald Trump is using his son in law's company (Jared Kushner) to get cheap Chinese financing for buildings with Trump's name licensed on them, in exchange for getting not only quick and effective investor 2 year visas for the richest Chinese, who don't have to wait in line or earn it the hard way, as 98% of most immigrants, but also permanent residency for the investor and his family.  All it takes is $500,000 of investment in an American company, and if that investment creates jobs, then after 2 years, the rich Chinese investor gets to come and go into The United States as they please (can't come and go into and out of China as you please, as visas are required) and have permanent residency in the US.

While the program has been around for 25 years, in the last 5 to 6 years it has really taken off with Chinese investors who don't care about a return on investment, they just want the green card. 10,000 EV-5 visas given out last year by the US, with 85% of them to China.

"They’ve taken our jobs, they’ve taken our money, they’ve taken everything,"  Trump has said, calling it the "Greatest single theft".  Trump is raising money through a government program that many regulators see as "very troubled", and could be enabling dirty money from criminal ventures to enter the US economy.  Congress is worried that Chinese money laundering is happening with these rich investors, who have virtually no vetting... money talks.

Yeah, Donald Trump knows the Chinese.  He's been taking their money.  "Good at buziness."  Sure.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.