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.
You too can make 975% return on your investments, $150m a year for doing nothing, as long as you have $1.1b to start with - plus a little extra pocket change to bribe the right people.
The ultra-rich live in a completely different universe. The best way to make money is to already have money.
2.0k
u/GenTycho 17d ago
I'm gonna bet those that let it happen are getting kickbacks off it.