Is this a surprise?

From the Washington Post (free registration required):

Local and state officials -- over the objections of their own downtown development chief -- gave one developer $650 million from the Liberty Bonds to erect an office tower for the Bank of America near Times Square, miles from the shattered precincts of Ground Zero. According to city records, another developer got $113 million to build a tower for Bank of New York in Brooklyn. One of the few projects downtown has gone to actor and sometime developer Robert De Niro, who picked up nearly $39 million from the bonds in November to build a boutique hotel in Tribeca, directly north of Ground Zero.

In the weeks following 9/11, Bill O'Reilly was literally screaming for Congressional "oversight" of private donations so that the funds would get to the "right people". Why there is so much faith in politicians to act virtuously I don't know.

"I constantly wonder what Congress will make of our lavish subsidies for some of the wealthiest neighborhoods in the country," said David
Dyssegaard Kallick, an economist and senior analyst with the Fiscal Policy Institute, a think tank funded by foundations and labor. "It just seems shocking."

It's shocking that he could find this shocking.

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