Total corruption in New York: Dem governor is in this up to her dictatorial neck

Just when you think you've heard it all from the Dem-ruled shithole called New York City, you see a new piece of corruption at every level.

When New York state legalized pot sales to anyone, it didn't just give a valuable license to sell weed to anyone who asked.  Ohhh no, citizen!  Instead, in the infinite wisdumb (sic) of the state, the damn LAW ordered that most licenses be given to people Democrats cunningly called "justice-involved individuals."

See, Democrats long ago realized that if you simply give people and policies vague names, most voters never know what the thing or policy actually means.

Democrats call that "transparency."

"Justice-involved individuals" could easily mean judges, DA's, police, court officials and so on.  But of course the Dems use this deliberately vague term for people who've been convicted of crimes.

See, the "thinking" wuz dat dis would be only fair, citizen.  "Restorative justice."  The Dems who rule NY figured a license to sell weed would be a license to print money.

But as with any state-regulated bidness, the all-powerful State imposed a mountain of application forms, and saddled the lucky winners with tons of regulations, paperwork and reporting requirements to ensure taxes were paid.

"Activists" for the "justice-involved individuals" realized most of their clients wouldn't be able to follow the instructions, so they got the rulers to pony up millions of dollars to pay state employees to fill out all the early paperwork FOR them--including loan applications.  Cuz see, starting even the smallest bidness in NYC costs a fortune.

So with that done, the first thing the state noticed ws that tax revenue was WAY less than what lawmakers were told it would be.  One reason is pure comfort: the law didn't allow pot "dispensaries" to deliver to your door, whereas unlicensed street sellers did--and at a lower price, since dey wudn't payin' no taxes!

And now the topper.  Headline:

Cannabis Store Operators Call for Loan Forgiveness

Sub-head: "Social Equity borrowers say a state program designed to help them threatens to sink their businesses instead"

First two sentences:

A group of cannabis dispensary operators called on Gov. Kathy Hochul to forgive tens of millions of dollars of high-cost loans they say threaten the viability of their businesses.
   The loans were made by a "social equity loan fund" created by Hochul to provide capital to (weed sellers), but which has instead “perpetuated many of the economic inequities it was designed to combat...”

See, "activists" have created a new term for a new class of borrowers: "Social-equity borrowers," borrowing money from Hochul's taxpayer-funded "social-equity loan fund."  Being a Democrat, Kathy is *totally* business-savvy, right?  So right after she signed the law legalizing pot sales, she ordered taxpayers to cough up $200 MILLION for her "social-equity loan fund to "finance" just the first 150 pot "dispensaries" in the state.

Is that just too faaabulous or what?

And since Kathy knows all the Dem buzz-words, she called dis a "public-private fund," which duh Media eagerly parroted.  Except..."the fund failed to attract the private investors who had been counted on to provide $150 million."

One weed-selling business profiled by a left/liberal NYC rag noted the owner had borrowed $1.9 million--at 13% interest!

Thirteen percent??  Are you kidding??  The interest on that loan would cost around $260,000 a year.  Hmmm...

So...Hochul's "social equity loan fund" was touted as $200 million.  And Hochul ordered the first $50 million paid by taxpayers.  But strangely, the "private" part of the hiply-named "public-private" fund consisted of just one lender: $28 million from a real-estate investment trust called "Chicago Atlantic," looking forward to making 13% *on loans essentially guaranteed by the state!*

WOW, is that a great deal or what??

And it gets better!  A local NYC leftist rag reports that taxpayers may be forced to pay the private investor 13% interest for ten years even if Hochul orders taxpayers to pay off the loans!  Cuz as you'll see later, they Knew Someone in state government who gave 'em what appears to be a corrupt deal--the exact terms of which the State has consistently refused to disclose.   

This has "corrupt insider deal" written all over it.  NO honest state lackey would ever sign a deal like that!  And sure enough, the leftist NYC rag writes

"The ramifications of (Hochul ordering taxpayers to pay off loans) are unclear because of the complex financial arrangements underpinning the fund, and its relationship with Chicago Atlantic (the private investor). The state has repeatedly refused to disclose those details fully in response to public records requests."

Starting to get it?  See, if you're NOT a "justice-involved individual" and you're unable to make loan payments, the lender forecloses on the loan.  Ahhh, but if you're a member of a "specially-protected group" you have your liberal friends in government coin a clever new term *just for you* that will get the Democrat dictator Kathy Hochul--the Nazi governor who ORDERED $200 MILLION in taxpayer cash be used to create the "social equity loan fund" in the first place, to now ORDER state taxpayers to pay off all those loans.

Sweet deal for Dems, eh?  Obviously the pot-selling borrowers would love to have taxpayers pay off their huge loans, since the $20,000-per-month loan payment would then become profit!

Ring any bells?  Cuz that's exactly like biden ordering Americans who never went to college to pay off student loans for liberals who borrowed $250,000 to attend Hahvahd.

See, citizen?  "All are equal under the law!"  Really!  We just need to re-define 'equal' as 'equitable outcomes.'  Easy!"

You really have to read the story in the local rag to believe it.  Totally corrupt, and a Democrat classic.

Source.

https://www.thecity.nyc/2025/01/09/cannabis-store-loan-forgiveness/