Judging by the length of this contract, they earned those kickbacks. My goodness the boldness of this. Any basic ROI analysis would show this is a terrible idea.
They essentially took a 1.16B loan in 2008, where the city had to pay that back to the tune of 150M every year, for 75 years. Thats 13% annually. Thats a 975% return on the loan.
That’s like taking out a 1.16B mortgage at 11% for 75 years. <insert Shane Gillis doing Trump> it’s a terrible deal, the worst deal I’ve ever seen this guy. I said to him it’s a terrible deal they’re all going to laugh at you. I did, I told him that.
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u/GenTycho 17d ago
I'm gonna bet those that let it happen are getting kickbacks off it.