- Drey Samuelson Thanks, John. My guess is that, if it were in error, Rounds' campaign would aggressively challenge it, but all we hear from them on this is crickets. $120M would cover the "structural deficit" that Rounds left the state in, which caused all sorts of chaos (including drastically lowering state aid to education, among other problems).
- Jeremiah M. Murphy Drey, as Bob Mercer reported in January of 2011, part of the basis for the deficit was state aid to education. Describing the cause of the deficit at the end of Rounds' second term, Mercer wrote: "Legislators repeatedly succumbed to pressure by public school lobbyists for extra money in various forms while Rounds was governor."
- Drey Samuelson All I know is that rough number $120M-$140M has been used repeatedly as an estimate of how much money the State didn't receive in EB-5 funds that apparently went to Joop Bollen and his cronies, and it has yet to be disputed by Mike Rounds' campaign, or anyone else, for that matter.
- Jeremiah M. Murphy As I've written under Drey's previous posts, I trust the SD Attorney General and the US Attorney and the state banking commission to investigate and prosecute any misdeeds. I know the $120-$140 million number has been used often. The claim that EB-5 wa...See More
- John Tsitrian Mr. Murphy, Kathy Tyler claims she has documents verifying that number but won't disclose how they came into her possession. You probably know Tyler better than I do (never met her, myself). Do you think she'd be making this up? I'd be amazed if she can't back up that claim, which didn't seem to draw any skepticism from the writer of the CIS piece.http://listen.sdpb.org/.../sd-lawmaker-accuses-eb-5...
- John Tsitrian I didn't say you were claiming anything, Mr. Murphy. I only asked if you thought she was making things up. My take is that she wouldn't have made such a high-profile announcement without rock solid evidence, which apparently is enough to convince the...See More
- John Tsitrian And here's a piece of deeper analysis by CIS that just came out this morning that makes Tyler's numbers look plausible: http://cis.org/.../very-large-fees-charged-south-dakotas...
- Jeremiah M. Murphy I didn't get into this post to defend EB-5 administration. I just wanted to point our Drey's overreach above. But, I can't help but notice that the "deeper analysis" you post seems to reduce the $140M to $80M and then further indicates that the fees charged by Bollen are way more, multiples more, than any state charges. That would seem to undercut the claim that what Bollen received would have been received by the state had Bollen not privatized the deal. As I said above, I'm watching this unfold. So, far, the unfolding process appears to indicate a diminishing harm than was originally claimed.
Friday, October 17, 2014
A Quick School On That $120 Million Or So That South Dakota Lost To The Joop Bollen Scam-O-La When Rounds Was Governor
I had quite an interesting exchange with Jeremiah Murphy on Facebook today regarding the sum that South Dakota was supposed to have lost when the EB-5 business was swiped from the State by Joop Bollen. It took place on Drey Samuelson's page and probably illuminated the details of the event. I know the figure of about $120 million has been called into question, and that's the crux of this discussion. Rather than share it ad infinitum on Facebook I thought I'd post it here. To wit: