"Rethug Messiah Creates Jobs in Wis!"
Rbot must be referring to this paragraph:
"Despite the program's poor performance, state elected officials have been lobbied to revive CAPCO investing on a much larger scale. The firms spent $250,000 last year lobbying in Madison - and a group of Assembly Republicans, with support from Speaker Jeff Fitzgerald (R-Horicon), has been reluctant to leave them out of a proposed state program to fund new companies."
However:
"Lobbyists for the CAPCOs advocated an approach similar to the one they sold to lawmakers in 1999."
Who was the Democrat governor back then?
I'm sure Rbot wasn't referring to this:
"Gov. Scott Walker and many Senate members from both parties support a new investment program in which the state would raise about $100 million. Instead of investing through CAPCOs, a manager hired by the state would put this money into venture capital funds that would finance Wisconsin start-up companies."
Nor referring to this:
"State Sen. Glenn Grothman (R-West Bend), who voted for the 1999 bill, now considers such CAPCO programs "arguably the most unethical pieces of legislation I've seen since I've been in Madison."
Nor even this:
"The law establishing the program was heavily influenced by Banc One, the parent company of Stonehenge Capital. A template for the bill was faxed by the CAPCO's parent to then-state Sen. Gwen Moore (D-Milwaukee), who became the chief sponsor, according to records examined by the newspaper."
And laughably not this:
"A May 2011 report paid for by the CAPCO trade organization estimated that 944 new workers paid $13.5 million in income taxes in 2009 to the state and helped generate 814 additional jobs through their own personal spending. Retired University of Wisconsin-Madison economist Donald Nichols, the report's author, said the state gave him the 944 new jobs number.
When asked about the accuracy of the number, state officials recalculated it. The agency's final report credits the CAPCOs with creating a total of 1,388 jobs in Wisconsin.
But that number has many problems."
Considering the final report was a mere 5 months after Walker the program must have fallen under Democrat Governor Jim Doyle.
Yes, yes...take notes.
