Monday, May 30, 2016

Billionaire Dalio to Get Millions from Connecticut Taxpayers

Politicians cater to the greed and leverage boys which is why the state of Connecticut will give Ray Dalio's Bridgewater Associates $22 million in economic development funds to retain or create jobs.  Dalio earned $1.4 billion from Bridgewater in 2015.

In 2004 the state of Texas gave The Carlyle Group's Vought Aircraft $35 million to create 3,000 jobs by 2010.  Carlyle cut 35 jobs during the performance period and paid a pittance back to taxpayers before monetizing Vought.  Republican Rick Perry provided Carlyle with free public capital for six years.

A Democratic Governor in Connecticut will give billionaire Dalio his public subsidy.  As I've written many times "politicians red and blue love PEU."

—more precisely, an accurate understanding of reality—
is the essential foundation for producing good outcomes.
Politicians produce good outcomes for their sponsors like Ray Dalio.