9 October 2010 at 1:26:01 PM
via the Dallas Morning News
Remember how Bill Flores said he was against corporate welfare. But then, ooops. Chet "Earmark King" Edwards, who is favor of corporate welfare for Comanche Peak, called him out over it, and Bill Flores changed his tune?
The Dallas Morning News has found that when Flores declared bankruptcy some years back, he cut a deal that allowed the taxpayer to get stuck with making up for his losses. I guess he's not against bailouts when it comes to his own. At least he didn't argue wih the deal that would allow him to not have to pay back the full amount he owed.
Flores has spoken about the bankruptcy previously, but mostly in the context of describing how he and other company officials rescued the firm and made it profitable again.
In a promotional video for a GOP website, he said: "Everybody that participated in the process got all their money back, and with interest. It was neat to see how things can work if you really pull together."
Thursday, he called that statement "95 percent accurate," saying that if the federal government had gone along with us ... it could have been 100 percent."
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