Saturday, November 20, 2010

SteelStacks and Soros

You're familiar with that project developing on the South Side of Bethlehem, PA -- SteelStacks -- near the Sands Casino, connected with ArtsQuest, the Banana Factory, Musikfest etc.?  I would never believe this if someone told it to me, but I saw it for myself in today's newspaper, SteelStacks was awarded a grant - funds in the amount of $900,000 from the Kresge Foundation of Troy, Michigan.  They give grants to many colleges, schools, green projects, etc. and I'm sure they're worthy of much acclaim.  But, guess who funds the Kresge Foundation -- none other than George Soros. And he is joined by the Federal Government. Leverage – overburdened consumers, inflated housing prices and deeply indebted corporations – is what got us into this recession, the worst since the Great Depression.  But there are times when leverage is good (?). Just this week, billionaire philanthropist George Soros said he would provide a $35 million gift to the state of New York as a way to leverage federal stimulus money to assist low-income children in the state. With the addition of federal funds, the gift will actually be worth $170 million. 

Just something to think about.  Why does Soros hand out all this money in the first place?  What's his objective?  How did SteelStacks get involved with the Kresge Foundation?  Does Soros need those who are short on funds to be on his side?  Is he really helping them or hurting them?  I can't answer, maybe somebody else can.

No comments: