Over the last few weeks, we have seen two instances of the Guilford Board of County Commissioners take actions that reek of Greensboro corruption.
The first was the proposal floated to build a new hockey arena.
The second was reported in the Rhino Times yesterday. The commissioners voted to get into business banking and lending.
The concept is to use taxpayers’ money to lend to aspiring entrepreneurs and small businesses. Of course, the program is intended to serve a certain demographic.
The city of Greensboro has had in the past a similar program that offered “forgivable” loans.
These are all loans, of course, that are unlikely to be paid back. The Guilford County program is designed to give taxpayer money to people with bad credit.
One other obvious shortcoming, among many? Business owners who have no “skin in the game” are more likely to fail.
It’s a “win-win” for the county commissioners.
They buy votes, and the only thing at risk is taxpayer’s money–which can always be replenished.
And replenish it, they will, Jaycee. It’s what they live for.
It is almost like the federal Small Business Administration.
If the people only knew, Fred…