Palin's Land Development Scam

[DaveofCali]

This is about Palin's $600 million other Bridge to Nowhere, the Knik Arm Bridge. Say it for what it is, a Land Development Scam. Consider that according to http://www.aktransportation.org/mega-projects/the-knik-arm-bridge-mega-project : "1) A technical and financial audit of KABATA’s cost estimates including rigorous analysis of bridge trip estimates. Wilbur Smith Associates showed that for current residents, only those living in the sparsely-populated area west of Wasilla and in rural areas near Point MacKenzie (i.e., not including the Mat-Su population centers of Wasilla and Palmer) would experience time-savings using the bridge2."


So not even the people of Wasilla will benefit from this bridge. If the Bridge is pretty much useless, then what is the real purpose for building it?


From the AP: http://ap.google.com/article/ALeqM5heg2jO4nPglP4mOITAxxpW3u3rjQD937LUV81

"The proposal exists thanks to an earmark request by Republican Rep. Don Young, whose son-in-law has a small stake in property near the bridge's proposed western span."

"The bridge is popular with property developers — including a group comprised of Young's son-in-law, the former legislative director for indicted Republican Sen. Ted Stevens and three others — who own land across from Anchorage on the inlet's western side."



I will not plagiarize someone else so I will quote someone by the name of Jasonhouse who rationalized this:

"This is a land development scam that taxpayers are subsidizing. Worse yet, it's the very elected officials funding the project who are profiting from the scam. The bridge is being built because a bunch of powerful people bought up land on the worthless side of the water, and are now legislating a bridge to be built at taxpayers' expense, so that they can develop their instantly valuable land and make millions in literally a 'can't lose' equation. (hell, the instant increase in land value would be worth millions in loan value, that could be used to capitalize other similar scams)

To me, this is a far larger scandal than 'Troopergate' or the 'Bridge to Nowhere'... She's helping buy her friends a whole bunch of free and easy money, while the rest of America gets stuck with the bill... And we can see what a little quid pro quo gets her in return... her ass put in the VP slot as the heir apparent to the throne of the Republican Mafia... err, I mean 'Party'."

[dgibby]

1. "Young's son-in-law ---and 3 others"

I'd be very interested in knowing who the other 3 are and what, if any, connection they have to the Palin's.

[DaveofCali]

2. If someone can research Palin's possible ties with these developers....

...and find something real good, I think this would be able to sink Palin for good.

[Boz]

4. They have land of their own in development, that was the heart of the Divorce scandal

[ContinentalOp]

3. k&r. interesting -nt-

[Straight Shooter]

5. What other Repub did something similar to this in the lower 48?

I can't remember, but it was the same scheme, to buy worthless property and then build a superhighway near it, I believe, which would dramatically increase the value of that property.

I'm going to start asking Repubs if they like the idea of someone in the White House who's going to be under constant investigation as more and more of these stories come to light.

[theothersnippywshrub]

6. Denny Hastert I think. n/t

[Straight Shooter]

8. I think you're right. I knew it was a fat cat in the repub party, couldn't remember which one.

No offense to overweight cats. :)

[DaveofCali]

7. Ok, Palin isn't really tied to this bridge scam, yet...

however, it looks more likely that the Former Governor setup for this bridge to be built. So Palin isn't tied to this, yet...

[maxsolomon]

9. sounds like old fashioned Murkan capitalism to me

socialize the costs, privatize the profit.