Biden Buddy and Dem Donor Received $20 Million Federal Loan for Foreign Auto Business


Having friends in high places sure is lucrative. Another Democrat donor has received a sweet federal loan from the federal government, this time for an auto company in the Ukraine. The owner is a man named John Hynansky, a good friend of Vice President Joe Biden who has donated plenty of money to Biden and Obama.

The Daily Caller has the details.

According to a public summary document, the loan, from the federal government’s Overseas Private Investment Corporation, is for “[u]p to $20.0 million,” and is designed to “expand Winner Import Ukraine’s automobile business, [and] construct and operate ‘Winner Autocity,’ which will have two new, state-of-the-art dealership facilities for Porsche and Land Rover/Jaguar automobiles.”

Porsche is a German-made luxury and sports car, and Jaguar Land Rover is a British luxury and sports car company owned by an Indian subsidiary.

The first time I read the story I thought I read “Winner Atrocity” which is sort of what this is when you think about it.

Though the Overseas Private Investment Corporation report says that “the project is not expected to have a negative impact on the U.S.economy or employment,” the revelation that Biden’s “very good friend” and donor, John Hynansky, received a taxpayer loan to open a business selling foreign luxury cars in a foreign country using foreign labor stands in stark contrast to the Obama-Biden 2012 campaign charges that the Mitt Romney-Paul Ryan campaign stands for breaks for big business and shipping American jobs overseas. (Read More)

The White House did not respond to the DC’s request for comment. I guess they’re too busy screeching about Mitt Romney’s tax returns.

Update: Some are arguing that this is not an issue because OPIC does not receive taxpayer funding. That is wrong, it does receive millions every year from taxpayers. And it’s controlled by Obama appointees.