10:38 PM

Boscov's Bailout Boondoggle

Posted by Skye |

It began this past summer with the Mayor of Philadelphia dipping into the taxpayer cookie jar to redirect tax dollars to fund his hommies trip to the DNC Convention.

In October, the Democrat controlled congress took 800 billion of taxpayer dollars to bailout Wallstreet.

This November, the Democratic tradition of taxpayer dollar redistribution continues with Ed Rendell bailing out Boscov's - Via Commonwealth Confidential:

Gov. Ed Rendell says the state has secured $35 million in federal loans to help regional department store chain Boscov's exit bankruptcy.

Rendell said today that the loans will be financed through a program that allows governments to guarantee loans for economic development with federal community development block grants.

Reading-based Boscov's filed for Chapter 11 protection in August and announced that it would close 10 of its 49 stores.
10 stores to be closed and this is characterized as an economic disaster for Pennsylvania? Hello! Any of my Pennyslvania readers shop at the women's clothing store Hit or Miss lately? No? That organization filed bankruptcy in 2000 and closed all its locations in PA. Don't recall any economic devastation or call for a state bailout, do you?

Never did like Boscov's and now my tax dollars are being used to prop up a store I don't patronize. How very democratic.

UPDATE: Always follow the money - have a look at the political donations made the Boscov family. More 'spreading of the wealth' or is it payback?

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