Sunday, March 13, 2011

Insiders Reap Fortunes From Federal Programs

Story in the WaPo here.

Read it and weep.

See if you don't agree with me that the Small Business Administration should be closed; shuttered; zeroed out of the budget. Its enabling legislation repealed.

Small business loans, minority set-asides, non-competitive contracts, women-owned business preferences... they're all open invitations for people who know how federal contracting works to game the system and pay themselves generous salaries, hefty bonuses and huge profit participation. Check it out: the Alaskan shareholders received an average of $300, but the D.C. lawyer who set it up earned $500,000 annually.

1 comment:

Old NFO said...

This has been going on for years... And you're right, if you can 'game' the system, you make a fortune for not doing squat...