U.S. Government to Give $313,000,000 to Muslims for Home Mortgages
According
to the GAO, Obama’s administration will be handing over more than $300
million tax dollars to Muslims to help pay their mortgages. $110 million
of this money will be used as loans for businesses located in the West
Bank.
The
name of the group in charge of this is called the Overseas Private
Investment Corporation. According to their website, ““OPIC provides
financial products, such as loans and guaranties; political risk
insurance; and support for investment funds, all of which help American
businesses expand into emerging markets.”
The
OPIC is partnering with a group created by the Palestinian Authority
president. The GAO notes , ” PIF is governed by a board of directors and
a general assembly appointed by the Palestinian Authority President,
and manages investments throughout a number of sectors…”
They
claim this will help emerging U.S business in the middle east. Though,
some argue this money will be going to terrorist linked groups and
businesses.
The OPIC claims all groups who will manage the money have been vetted to make sure the money isn’t going to the wrong people.
What do you think? Why isn’t this money staying in the U.S. where it is needed?
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